January 31, 2012 | Quote
US Lawmakers Take Next Step on New Iran Sanctions
The proposed bill would target companies that do business with the IRGC, which would be “consequential” for the energy sector, said Mark Dubowitz, executive director of the Foundation for Defense of Democracies.
The language could give the United States the legal authority to sanction foreign companies that buy oil from the National Iranian Oil Company (NIOC) or have it shipped by the National Iranian Tanker Company (NITC), Dubowitz said in an interview.
“They don't specifically name them, although the current language in the bill would cover them,” he said, noting that there could be amendments that would more specifically target the NIOC and NITC as priorities for investigation and sanctions.
Dubowitz said he also hopes to see amendments to the bill that would require oil companies to certify that refined products such as gasoline shipped to the United States do not contain any Iranian crude oil.