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Iran Energy Project Milestones

Milestones

  • 09/01/2014: Commentary Magazine cites the Roubini report: "The results of a joint study from Roubini Global Economics and the Foundation for Defense of Democracies released in July showed the Iranian economy not in collapse but in recovery. After a year of heavy contraction, economic growth was expected in 2014–15. Inflation was down. The sanctions relief from the interim deal resulted in a six-month, $11 billion boom for the Iranian economy in direct benefits." (Commentary Magazine)
  • 7/20/2014: The Wall Street Journal cites a recent report by Roubini Global Economics & Foundation for Defense of Democracies. The opinion piece notes "Meantime, Iran is enjoying a modest economic recovery largely thanks to sanctions relief. A study by Roubini Global Economics and the Foundation for Defense of Democracies (FDD) notes that Iran received $11 billion in direct sanctions relief in the first six months of the year, plus indirect benefits in market confidence and transaction costs. FDD also notes that "despite statements from President Obama and administration officials that existing sanctions would be 'vigorously' enforced, there has been a notable decrease in the number of designations" for sanctions violations in the last year." (The Wall Street Journal)
  • 7/14/2014: In The Daily Beast, Eli Lake cites a recent report by Roubini Global Economics & Foundation for Defense of Democracies. "As U.S. and allied negotiators try to hammer out a nuclear deal with Iran this week in Vienna, they will have less economic leverage on their Iranian counterparts than they had a year ago. That is the conclusion of a new study from Roubini Global Economics and the Foundation for the Defense of Democracies, two groups that have analyzed Iran’s economy —and the international sanctions imposed on the country’s banks, oil exports and leading regime figures." (The Daily Beast)
  • 6/19/2014: Arsham Parsi, who spoke at an FDD-sponsored event on Capital Hill on Dashed Hopes: Iran's Human Rights Record Under Rouhani, is interviewed by the Washington Blade. (The Washington Blade)
  • 1/3/2013: President Barack Obama signed the National Defense Authorization Act for Fiscal Year 2013 includes an amendment, the Iran Freedom and Counter-Proliferation Act of 2012, that blacklists Iran’s entire energy, port, shipping and ship-building sectors, denying Iran’s government funding for its nuclear and ballistic missile programs, and international terrorist activities. (Government Printing Office)
  • 12/20/2012: Canada identified the IRGC's Qods Force as a terrorist entity. (Public Safety Canada)
  • 12/12/2012: Canada's Foreign Affairs Minister John Baird announced new sanctions against Irann that added 98 entities named as designated persons including the Islamic Revolutionary Guards Corps (IRGC) and the Basij. (Foreign Affairs and International Trade Canada)
  • 10/15/2012: The Council of the European Union expanded sanctions against Iran in the financial, trade, energy and transport sectors, with additional designations on entities in the oil and gas industry. The sanctions include all transactions between European and Iranian banks, unless they are explicitly authorised by national authorities under strict conditions and a prohibition on the export to Iran of further materials relevant to its nuclear and ballistic programmes or to industries controlled by the Islamic Revolutionary Guard Corps (IRGC). (Official Journal of the European Union)
  • 9/22/2012: The U.S. Senate passed a joint resolution ruling out the policy of containing a nuclear-armed Iran, urging increased diplomatic pressure and economic sanctions on Iran. The measure stipulates that it shall not be “construed as an authorization for the use of force.” (The Iran Primer)
  • 9/7/2012: The Government of Canada severed its ties with Iran. Ottawa moved to designate Iran as a state sponsor of terrorism, close its embassy in Tehran, and expel all remaining Iranian diplomats. (The Guardian)
  • 8/10/2012: President Barack Obama signed the Iran Threat Reduction and Syria Human Rights Act of 2012 increasing sanctions against Iran. (The Wall Street Journal)
  • 8/1/2012: The Senate passed the Iran Threat Reduction and Syria Human Rights Act of 2012 paving the way to increase sanctions against Iran. (GovTrack)
  • 4/26/2012: British classification society Lloyd's Register announced the company has ceased its operations in Iran as a result of Western sanctions. (Reuters)
  • 3/15/2012: Brussels-based Society for Worldwide Interbank Financial Transactions, a secure financial messaging platform used by over 10,000 international institutions in 210 countries, announced in a statement that it would stop providing its financial messaging services to Iranian banks that are subject to EU sanctions. (The New York Times)
  • 1/23/2012: The European Union widened its sanctions against Iran by banning Iranian oil imports, freezing assets of the Central Bank of Iran, blocking European Union countries from exporting petrochemical equipment and technology, and trading diamonds and precious metals with Iran. (Official Journal of the European Union)
  • 12/14/2011: The House of Representatives passed the Iran Threat Reduction and Syria Human Rights Act paving the way to increase sanctions against Iran. (GovTrack)
  • 6/30/2011: Irish firm Clontarf Energy announced its plan to write off its projects in Iran as part of a company reorganization. (Proactive Investors)
  • 3/28/2011: Austrian firm OMV announced that it would no longer provide fuel to Iran Air in Vienna. (UPI)
  • 12/14/2010: Chemical firm Transammonia stated that its Swiss subsidiary would not enter into new contracts with Iranian companies and wind down its business with Iran "as soon as possible." (CNBC)
  • 11/12/2010: Oil firm Schlumberger announced that it informed the U.S. government that it planned to exit Iran as soon as the company's existing contracts were complete. However, it appears the company will remain in Iran until 2013. (Boston Globe)
  • 11/10/2010: British Petroleum (BP) stated that it intended to close its project, the Rhum gas field in the North Sea, which the National Iranian Oil Company is a partner, as part of the company's efforts to comply with EU sanctions. (AFP)
  • 10/16/2010: French oil major Total announced that it ceased all of its oil products trade with Iran. (Reuters)
  • 10/15/2010: Japanese energy firm INPEX announced its formal withdrawal from Iran's Azadegan oil field. (Bloomberg)
  • 9/30/2010: Kuwait's Independent Petroleum Group (IPG) reportedly ceased their refined petroleum sales to Iran, according to the U.S. State Department. (U.S. Department of State)
  • 9/30/2010: The United States Department of State announced that Turkish firm Tupras informed the U.S. agency that they had cancelled their contracts to supply Iran with gasoline. (U.S. Department of State)
  • 9/23/2010: Germany's ThyssenKrupp stated that it was ending its business in Iran. (Bloomberg)
  • 9/10/2010: German firm The Linde Group announced that it was cutting all of its business ties in Iran. (The Wall Street Journal)
  • 8/25/2010: Australian firm WorleyParsons announced that it was not going to accept any new contracts in Iran. (WorleyParsons Press Release)
  • 8/25/2010: LyondellBasell's board approved a decision to cease the Dutch company's operations in Iran. (The Wall Street Journal)
  • 7/13/2010: BP announced that it had ceased it supply of jet fuel to Iran Air at the end of June. (Reuters)
  • 7/9/2010: Royal Dutch Shell announced that they were ending their jet fuel supplies to Iran Air. (Reuters)
  • 7/1/2010: South Korea's GS Engineering & Construction Company announced that it was cancelling its contract to sweeten gas from Iran's South Pars gas field as a result of increased sanctions. (Reuters)
  • 7/1/2010: Lloyd's of London announced that would be restricting cover for any ships carrying petroleum to Iran. (Financial Times)
  • 7/1/2010: President Barack Obama signs the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, enacting the toughest sanctions on Iran to date (The White House)
  • 6/28/2010: French oil major Total reportedly halts its gasoline sales to Iran (The Wall Street Journal)
  • 6/24/2010: The U.S. Congress overwhelmingly approves the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010. The House of Representatives passed the bill 408-8, hours after the Senate approved it 99-0. (Reuters)
  • 6/9/2010: FDD publishes an article in the Hill newspapers identifying a major loophole in the Iran sanctions legislation related to Iran's use of joint ventures to potentially evade sanctions.
  • 6/9/2010: By a vote of 12 to 2 with one abstention, the UN Security Council approves new sanctions against Iran that will enable the United States, its European allies, Canada, and other nations, to pursue stronger sanction on Iran's energy sector. (Foreign Policy)
  • 5/28/2010: The U.S. House approves an amendment to prohibiting the Department of Defense from awarding contracts to companies with commercial ties to Iran's energy sector. The language was championed by Armed Services Committee Chairman Ike Skelton, Ranking Member Buck McKeon, and Rep. Ron Klein. (FDD Press Release)
  • 5/4/2010: Gasoline sales to Iran have dropped 25% over the previous month as a result of eight major energy companies reportedly leaving the market. (Reuters)
  • 4/15/2010: Malaysia's Petronas announced that it stopped selling gasoline to Iran. (Reuters)
  • 4/7/2010: Lukoil announces that it has ended gasoline sales to Iran. (United Press International)
  • 3/23/2010: The U.S. Government Accountability Office (GAO) released a report in April 2010 on firms reported as having commercial activity in Iran's oil, gas and petrochemical sectors. (GAO)
  • 3/20/2010: Lukoil abandoned a significant energy project in Iran. (United Press International)
  • 3/10/2010: Royal Dutch Shell announced that it has ended gasoline sales to Iran. (Reuters)
  • 3/8/2010: Swiss-Dutch trading companies Vitol and Trafigura, two of Iran's leading suppliers of gasoline, bowed out of the Iranian market. (Reuters)
  • 3/2010: German firm Bayerngas reportedly shelves its project in Iran. (Die Welt)
  • 2/4/2010: Italy's ENI will leave Iran after the expiration of contracts to develop two gas fields. ENI's CEO Paolo Scaroni cited growing "international pressure to isolate the country over its disputed nuclear program" when deciding to end business in Iran. (Associated Press)
  • 1/27/2010: The Senate approved, by unanimous consent, the Comprehensive Iran Sanctions, Accountability, and Divestment Act (S.2799), which authorizes the president to sanction any person or entity that sells gasoline and other refined petroleum products to Iran or helps to expand Iran's refinery capacity. It also applies to the insurance, reinsurance, and shipping companies that facilitate this trade. (Politico)
  • 1/09/2010: Swiss-based Glencore International AG, one of the world's largest commodities traders, reported that they had stopped supplying Iran with gasoline. (The Wall Street Journal)
  • 12/12/2009: U.S. House of Representatives approved the Iran Refined Petroleum Sanctions Act (IRPSA) by a vote of 412-12. (Reuters)
  • 10/28/2009: The House Foreign Affairs Committee marked up legislation targeting the Iranian regime's ability to import gasoline, the Iran Refined Petroleum Sanctions Act (IRPSA). IRPSA, cosponsored by more than 75% of House Members, authorizes the president to sanction any person or entity that sells gasoline and other refined petroleum products to Iran. It also allows the president to sanction insurance, reinsurance, and shipping companies that facilitate this trade. (Los Angeles Times)
  • 10/28/2009: The Fiscal Year 2010 Energy and Water Appropriations Act was signed into law, including an amendment to prohibit any company selling gasoline to Iran from receiving contracts to fill the Strategic Petroleum Reserve. FDD had earlier revealed that energy trader Vitol, one of Iran's largest gasoline suppliers, had received a $50 million contract for the Strategic Petroleum Reserve. (Congressional Research Service)
  • 10/13/2009: The House voted 414 to 6 to approve the Iran Sanctions Enabling Act of 2009, which was sponsored by House Financial Services Committee Chairman Rep. Barney Frank (D-MA) and has 257 bipartisan cosponsors. The legislation authorizes state and local governments to direct divestiture from, and prevent investment in, companies invested in Iran's energy sector. FDD testified to the Financial Services Committee in support of the legislation. (Voice of America)
  • 4/02/2009: The U.S. Senate passed, by unanimous consent, an amendment to a federal budget resolution to deny funding for federal government expenditures to companies earning revenue in Iran's energy sector, including companies providing refined petroleum products to Iran as well shipment, insurance and reinsurance services assisting in those sales. (United Press International)
  • 2/2009: Reliance Industries Ltd. of India, did not ship gasoline to Iran after members of Congress called for an investigation of loan guarantees provided by the U.S. Export-Import Bank to help Reliance expand a refinery where it was refinining petroleum for sale to Iran. FDD had identified the $900 million in loan guarantees to Reliance as a potential source of leverage for the U.S. government. (Reuters)
  • 11/2008: British Petroleum, stopped its own shipments after deciding that the company's extensive North American business interests were more valuable than the Iranian market. (Stratfor)