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U.S. House of Representatives Approves Expansion of Iran Sanctions Act

The U.S. House of Representatives yesterday approved H.R. 957, legislation that expands the scope of the Iran Sanctions Act to prevent investment in the country’s LNG industry. The bill would also seek to hold U.S. companies accountable for the investmen
July 31, 2007

The U.S. House of Representatives yesterday approved H.R. 957, legislation that expands the scope of the Iran Sanctions Act to prevent investment in the country’s LNG industry. The bill would also seek to hold U.S. companies accountable for the investments of their foreign subsidiaries in Iran. The Iran Sanctions Act establishes penalties for foreign energy companies that invest more than $20 million in the Iranian oil and gas sector, though the Act has never been applied despite several high profile investments. Read more in Platts LNG Daily. [Subscription required]

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Adam C. Pollet, Associate
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