Publication Date:
Tue, 2011-03-29 23:58
The State Department said it had hit Belarusneft with penalties that cut its access to US markets over a 2007 contract it signed with NaftIran Intertrade Company to develop Iran’s Jofeir oilfield.
The penalties include a ban on US export licenses, loans and government contracts.
The sanctions were imposed under the US laws that seek to punish Iran for failing to prove its nuclear program is peaceful by penalizing foreign businesses that invest in its energy sector.
The US says such investments help support the Iranian nuclear program that it believes is a cover for developing atomic weapons.
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