February 6, 2012 | Quote
Iran-Sanctions Bid Targets Oil, Tanker Companies
A global oil embargo isn’t the intent of the congressional proposals, according to Mark Dubowitz, executive director of the Foundation for the Defense of Democracies, a Washington policy group that has advised Congress and the administration on sanctions.
Tainting Iran’s oil by association with the Revolutionary Guard turns it into “a distressed asset” and increases “the hassle factor” in buying it, he said in an interview. Law- abiding buyers will seek other suppliers, while those who flout sanctions will bargain to buy it cheaply, he predicted. …
Dubowitz praised lawmakers for spotlighting the Revolutionary Guard and casting Iranian crude as “blood oil.” …
Dubowitz’s foundation has said it has established “direct and indirect involvement” of the Revolutionary Guard in NIOC’s oil deals in Bolivia, India and Malaysia.