April 3, 2012 | Quote
US Lawmakers Target Iran Energy Sector for Expanded Sanctions
The proposed legislation expands on existing laws by making the Iranian energy sector a “no-go zone” for any foreign investment in energy, any imports of natural gas and the sale of energy-related technology, goods and services, said Mark Dubowitz, who advised Deutch on the bill and is executive director of the Foundation for Defense of Democracies, a research group in Washington.
‘Blacklisting’ Energy Sector
“Blacklisting Iran’s entire energy sector would reduce the number of companies willing to trade in Iranian oil and natural gas, thus forcing Iran to reduce its prices for whatever it can still sell,” Dubowitz said. “If aggressively enforced, these sanctions also would discourage most foreign companies from investing in Iran’s energy sector.”
Dubowitz said the idea is based on a 2010 United Nations Security Council resolution that refers to a “potential connection” between Iranian oil and gas revenues and “the funding of its proliferation-sensitive nuclear activities.”