US Slaps Belarusian Co. With Sanctions For Iran Ties

Law360, New York (March 30, 2011, 6:36 PM EDT) -- The U.S. Department of State on Tuesday announced sanctions against a state-owned Belarusian energy company for its ties to Iran's petroleum industry, barring it from receiving government contracts, among other penalties.

The State Department said it was targeting Belorusneft over a $500 million contract with NaftIran Intertrade Co. in 2007 for the development of the Jofeir oil field in the Middle Eastern country.

The government characterized the action as part of ongoing efforts to ratchet up the pressure on Iran for failing to meet international obligations...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.