Middle East Economic Survey

VOL. LII

No 44

2-Nov-2009

IRAN

US House Passes Expanded Sanctions Bill Against Iran

The US House Foreign Affairs Committee passed on 28 October a new bill that empowers the administration of US President Barack Obama to levy heavy fines and exclude any company exporting petroleum products to Iran from Strategic Oil Reserve contracts. The legislation, sponsored by almost 75% of the House members, was nearly unanimously accepted. The bill expands the existing Iran...