Comments on: Refined Petroleum Sanctions Pass the Senate http://irangcc.com/2010/01/28/1124/ Fri, 29 Jan 2010 13:09:27 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: admin http://irangcc.com/2010/01/28/1124/comment-page-1/#comment-922 admin Fri, 29 Jan 2010 13:09:27 +0000 http://irangcc.com/?p=1124#comment-922 Hi David There are sanctions and then there are sanctions. US is most draconian where all business dealings with Iran are out except for very specific items. The UN sanctions are much more limited - mostly arms and dual-use items. The US also has informal sanctions where the treasury dept goes around the world trying to persuade banks and companies not to do business with Iran. These 'soft sanctions' depend on the persuasive powers of US officials and they have not yet gotten other countries to stop doing energy deals with Iran although they have had some success in the Gulf banking sector and now, Siemens. The main reason US business doesn't like this new bill is that it could require US business to cut off contracts with 3rd party companies that do business with Iran. This means it could get at some of these deals in Europe and Asia by freezing out their US business. very best, will Hi David

There are sanctions and then there are sanctions. US is most draconian where all business dealings with Iran are out except for very specific items. The UN sanctions are much more limited – mostly arms and dual-use items. The US also has informal sanctions where the treasury dept goes around the world trying to persuade banks and companies not to do business with Iran. These ’soft sanctions’ depend on the persuasive powers of US officials and they have not yet gotten other countries to stop doing energy deals with Iran although they have had some success in the Gulf banking sector and now, Siemens. The main reason US business doesn’t like this new bill is that it could require US business to cut off contracts with 3rd party companies that do business with Iran. This means it could get at some of these deals in Europe and Asia by freezing out their US business.

very best,
will

]]> By: David Roberts http://irangcc.com/2010/01/28/1124/comment-page-1/#comment-920 David Roberts Fri, 29 Jan 2010 08:22:01 +0000 http://irangcc.com/?p=1124#comment-920 Considering the rafts of sanctions against Iran from the US, UN and the EU, how can, for example, close US ally South Korea and EU member state Italy invest in the country? http://www.upi.com/Science_News/Resource-Wars/2009/11/06/Italy-South-Korea-in-deal-for-Iranian-gas/UPI-34441257525595/ Is it just because it's considered to be too small a sum to worry about? Any thoughts? Cheers David Considering the rafts of sanctions against Iran from the US, UN and the EU, how can, for example, close US ally South Korea and EU member state Italy invest in the country?

http://www.upi.com/Science_News/Resource-Wars/2009/11/06/Italy-South-Korea-in-deal-for-Iranian-gas/UPI-34441257525595/

Is it just because it’s considered to be too small a sum to worry about? Any thoughts?
Cheers

David

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