Not So Great Britain

US Congress bids to punish foreign oil firms linked to Iran | June 29, 2007

US legislation aiming to punish foreign energy companies that do business with Iran took a step forward Tuesday as lawmakers attacked the Islamic republic’s nuclear drive and “terrorism.”The foreign affairs panel of the House of Representatives passed the proposed law by 37 votes to one, with Democrats and Republicans alike accusing Iran of using energy investment for nefarious ends.

“Foreign investment in Iran equals money for terrorism and attacks on Americans,” Democrat Gary Ackerman said.

“Investment in Iran’s petroleum sector enables that country to pursue nuclear weapons, to arm insurgents fighting American troops, and to underwrite Hezbollah and Hamas,” he said.

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Posted in Iran, Oil

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