US tightens economic blockade of Iran

[Hannah Bell]

The Obama administration is using the threat of US penalties to ramp up the pressure on banks, companies and governments internationally to cut economic ties with Iran. Last week the US State Department announced that four major energy corporations had agreed to end investments in Iran in return for a waiver of US action over their past activities.

US Deputy Secretary of State James Steinberg announced on September 30 that Royal Dutch Shell, Norway-based Statoil, the Italian company Eni and France-based Total had all agreed “to terminate their investments and avoid any new activity in Iran’s energy sector, delivering a significant setback to Iran”.

In Japan, Inpex, which is 30 percent state-owned, indicated that it had not made a final decision on relinquishing its stake in Iran’s Azadegan oil field, but Trade and Energy Minister Akihiro Ohata said the company would pull out—as “a business decision”. US officials had threatened to place Inpex on a sanctions watch list if the firm did not halt its business in Iran.

The US State Department also noted that India’s Reliance, Turkey’s Tupras, Kuwait’s Independent Petroleum Group and Russia’s Lukoil were among other companies that had either ended, or promised to end, sales of refined petroleum to Iran. BP and Shell had also announced that they would no longer supply jet fuel to Iran Air.

http://www.wsws.org/articles/2010/oct2010/iran-o08.shtml


World war is they typical outcome of global depression, kiddies.

[yurbud]

1. Iran is complying with IAEA so what's the justification?

[Hannah Bell]

2. capital doesn't need a justification. they shape reality, remember?

[Hannah Bell]

3. k

[blindpig]

4. k&r