BICOM

The US has sanctioned three foreign companies doing business with Iran’s energy sector on Thursday. The move follows additional tough sanctions the White House recently put in place against Iran, to impress on Beijing and Tehran its resolve to increase economic pressure over Iran’s nuclear programme.

The firms, Zhenrong Company from China, Kuo Oil from Singapore and FAL Oil Company Limited from the United Arab Emirates, will no longer be able to receive US export licenses, US Export Import Bank financing or loans over $10 million from US financial institutions. The companies were sanctioned under the Comprehensive Iran Sanctions, Accountability and Divestment Act, a measure that the administration has historically been reluctant to utilise, for fear that it would alienate other countries.

The State Department said the move was part of an international effort to target Iran’s energy sector and persuade Tehran to cease in its nuclear enrichment. “The sanctions announced today are an important step toward that goal, as they target the individual companies that help Iran evade these efforts,” the statement said.

Also yesterday, as part of their regular communication and co-operation on bilateral and regional issues, US President Barak Obama spoke with Prime Minister Benjamin Netanyahu, the White House said. The statement added that the two leaders discussed recent Iran-related developments, including the international community’s efforts to hold Iran accountable for its failures to meet its international obligations. The two leaders also reviewed recent meetings between Israeli and Palestinian negotiators in Amman. Next week King Abdullah of Jordan is scheduled to visit the White House.

Obama this week has praised the Jordanian monarch for his efforts in bringing Israeli and Palestinian officials to the table.