January 27, 2012 | Quote

Iran Tanker Firm Denies Link to Revolutionary Guard

“The proposed legislation should call on the U.S. administration to designate NITC and NIOC under executive order for their connection to the IRGC. And it should sanction non-U.S. persons doing business with these IRGC entities,” said Mark Dubowitz of Washington's Foundation for Defense of Democracies.

“NITC is a critical element of the IRGC-controlled oil supply chain. Its tankers enjoy free access to global ports around the world despite the IRGC's reputation as an international outlaw.

“These NITC sanctions would ratchet up significantly the hassle factor for companies trading in Iranian crude and, like other measures targeting Iranian oil revenue, are designed to
persuade countries to reduce their crude purchases or to negotiate for price discounts on every Iranian barrel to compensate them for the increased risks.”

Read the full article here.

Issues:

Iran Iran Sanctions