Free Republic
Browse · Search
Topics · Post Article

Skip to comments.

4 firms stop investing in Iran
StraitsTimes ^

Posted on 09/30/2010 7:49:09 PM PDT by nuconvert

WASHINGTON - UNDER threat of US sanctions, European oil firms Total, Shell, Statoil and Eni have pledged to stop investing in Iran in what amounts to a 'significant setback' to Teheran, a US official said on Thursday.

The pledges fall in line with new energy and financial measures against Iran that US President Barack Obama signed into law in July in the wake of UN Security Council sanctions imposed in June to curb Iran's nuclear ambitions.

'We have received commitments from four international energy firms to terminate their investments and avoid any new activity in Iran's energy sector,' Deputy Secretary of State James Steinberg told reporters.

The move dealt 'a significant setback to Iran,' Mr Steinberg added as analysts agreed that most major Western firms have now come to the conclusion that it is no longer worth doing business in Iran.

Mr Steinberg said that the firms - France's Total, Anglo-Dutch Shell, Norway's Statoil and Italy's Eni - are now eligible to avoid sanctions for doing business in the United States or with US firms.

The companies 'have provided assurance to us that they have stopped,' or taken steps to stop business with Iran, he said.

TOPICS: Business/Economy; Foreign Affairs; Front Page News; News/Current Events; War on Terror
KEYWORDS: eni; france; iran; italy; norway; oil; sanctions; shell; statoil; total; waronterror

1 posted on 09/30/2010 7:49:10 PM PDT by nuconvert
[ Post Reply | Private Reply | View Replies]

To: AdmSmith; Arthur Wildfire! March; Berosus; bigheadfred; blueyon; Convert from ECUSA; dervish; ...

“France’s Total, Anglo-Dutch Shell, Norway’s Statoil and Italy’s Eni”

Thanks nuconvert, additional:

2 posted on 10/03/2010 7:11:21 PM PDT by SunkenCiv (Democratic Underground... matters are worse, as their latest fund drive has come up short...)
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794 is powered by software copyright 2000-2008 John Robinson