Middle East Economic Survey

VOL. LIII

No 40

4-Oct-2010

IRAN

IOCs Pull Out Of Iran To Comply With Tightening Sanctions As US Vows Crackdown

Four IOCs have pledged to end their investments in Irans energy sector in order to comply with the tighter US sanctions that were signed into law on 1 July, the US State Department announced on 30 September. In keeping this pledge, Eni, Shell, Statoil and Total will be able to avoid any further action by the US under a Special Rule in the Comprehensive...