February 12, 2012 | Quote

EU Sanctions on Iran’s Main Ports Will Slash Trade If Enforced

Emanuele Ottolenghi, a senior fellow at the Foundation for the Defense of Democracies in Washington, a research group that supports sanctions on Iran, said the Tidewater ban is an important step in hampering Iran’s weapons proliferation.

Ottolenghi said he worries that Tidewater, along with determined traders or shippers, will find ways around the ban.

“What happens if Tidewater transfers its business to its subsidiaries” that aren’t covered by EU or U.S. sanctions, he said. Sanctioned Iranian banks and ships have resurfaced under new names, he said. “Presumably, you will see much of the same.”

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Iran Iran Sanctions