Oil

           On Sept. 24, the Treasury Department submitted a report to Congress determining that the National Iranian Oil Company is an agent or affiliate of the Revolutionary Guards. The following is an excerpt from the report. The IRGC is Iran’s most powerful economic actor, dominating many…
On Sept. 12, Under Secretary for Terrorism and Financial Intelligence David Cohen announced that Iran’s crude oil exports have decreased by 55 percent since January 2012. “Today, the Iranian government is relegated to the backwaters of the international financial system,” said Cohen at the New York…
On August 10, the United States “imposed sanctions on the Syrian state-run oil company Sytrol under the Iran Sanctions Act (ISA), as amended by the Comprehensive Iran Sanctions, Accountability, and Divestment Act (CISADA), for conducting business with Iran’s energy sector.” State Department Deputy…
On August 1, Congress voted to impose new sanctions on Iran that target companies aiding Tehran’s energy sector. The Iran Sanctions, Accountability, and Human Rights Act of 2012 differs from President Obama’s July 31 executive order by targeting companies conducting business with Iran’s national…
On July 31, the Obama administration provided a briefing on the new U.S. sanctions on Iran. In this conference call, three government officials discussed President Obama’s new sanctions and the impact of existing sanctions on Iran’s government and economy. The following are excerpts from the…
On July 31, President Obama issued the following statement on new sanctions on Iranian oil and foreign financial institutions that facilitate transactions for Iranian banks. Today, the United States is announcing two significant steps that strengthen our efforts to pressure and isolate the Iranian…
Erica Downs On June 28, the United States reported that China cut its imports of Iranian oil by 25 percent to avoid U.S. sanctions. What impact will the cutback have on China-Iran relations, both economically and politically?  Politically, the exemption from the Obama administration is…
On June 11, Secretary of State Hillary Clinton issued the following statement on Significant Reductions of Iranian Crude Oil Purchases: Today I have made the determination that seven economies—India, Malaysia, Republic of Korea, South Africa, Sri Lanka, Turkey and Taiwan--have all significantly…
      On March 30, President Obama issued the following memorandum for the Secretary of State, the Secretary of the Treasury, the Secretary of Energy.   By the authority vested in me as President by the Constitution and the laws of the United States, after carefully considering the report…
On March 20, Secretary of State Hillary Clinton issued the following statement on Significant Reductions of Iranian Crude Oil Purchases:  I am pleased to announce that an initial group of eleven countries has significantly reduced their volume of crude oil purchases from Iran -- Belgium, the…