TODAY.AZ / World news

US sanctions seven companies over Iran ties

25 May 2011 [09:15] - TODAY.AZ
The United States on Tuesday imposed sanctions on seven foreign companies for being involved in Iran's energy sector, dpa reported.

The sanctions generally bar the companies from doing business with the US, but were tailored to each firm, US Deputy Secretary of State James Steinberg said.

The US alleges that Iran uses its energy sector to help fund its nuclear activities, and accuses the companies of helping Tehran get around US sanctions.

The US suspects Iran is seeking a nuclear weapons capability and has not complied with demands to come clean about its atomic program.

"The intent of sanctions on Iran is to pressure it to comply with its international obligations," Steinberg said.

The sanctions target Venezuela's state run oil firm PDVSA, banning it from competing for US government contracts and financing, but still allowing it to sell oil in the US.

The other firms are Jersey-based PCCI, the Royal Oyster Group and Speedy Ship - both in the United Arab Emirates, Tanker Pacific in Singapore, Israel-based Ofer Brothers Group, and Associated Shipbroking in Monaco.


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