December 19, 2011 | Quote

Administration Gets Some of the Leeway It Sought in New Iran Sanctions

Mark Dubowitz, executive director of the Foundation for Defense of Democracies, a think tank that has closely consulted with Congress on shaping such sanctions, said the law’s effect would be to “increase the hassle factor” for companies seeking to purchase oil. That and increased transaction costs for Iran occasioned by the difficulties of bypassing traditional markets would force Iran to discount its oil, he said.

“The goal is to reduce the price companies are willing to pay for Iranian oil, thereby diminishing the oil revenue Iranian companies receive,” he said.

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Iran Iran Sanctions