Pressuring Oil And Fuel Cos. To Stop Iran Business
In May, the government imposed penalties on Petroleos de Venezuela (PDVSA), Tanker Pacific Management Ltd. (Singapore) and two entities within the Ofer Brothers Group shipping organization for engaging in transactions related to refined petroleum with Iran. These companies have been barred from obtaining any significant U.S. bank or Export-Import Bank financing and, in the case of PDVSA, from obtaining U.S. government contracts.
These actions follow a recent...
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