U.S. House of Representatives passes Iran gasoline sanctions bill

HaAretz ^ | 12/15/09 | By Reuters, Natasha Mozgovaya, Haaretz Correspondent

[Nachum]

The U.S. House of Representatives approved legislation on Tuesday to impose sanctions on foreign companies that help supply gasoline to Iran, a move lawmakers hope will deter Tehran from pursuing its nuclear program.

The bill authorizes President Barack Obama to levy sanctions on energy companies that directly provide gasoline to Iran along with the firms that provide insurance and tankers to facilitate the fuel shipments. The Senate is likely to approve a similar bill, but it is uncertain how soon it will vote.

[Nachum]

Well, that will certainly teach them a lesson.

[Jeff Chandler]

Forget the sanctions, O Bama. Talk to them and mesmerize them with your charm.

[familyop]

As of a couple of years ago, Iran was only getting about 40% of its gasoline from other countries. Since then, there were deals with China and other nations to build more refineries here and there and to import gas into Iran. It’s doubtful that those nations will honor any such sanction.

But it’s a good tactic in favor of the most favored constituents (importers, families that own corporate-business-government). Because it stalls against action against Iran and the likely higher freight fuel prices, at our near-future expense, of course. Incoming!