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US slaps sanctions on companies dealing with Iran

Friday, January 13, 2012

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The US has slapped sanctions on three foreign energy companies doing business with Iran as part of its effort to put more economic pressure on Tehran over its nuclear program, Reuters reports.

Sanctions were imposed on China’s state-run Zhuhai Zhenrong Corp, as well as Singapore’s Kuo Oil Pte Ltd and UAE’s FAL Oil Company Ltd.

“Under the sanctions imposed today, all three companies are barred from receiving US export licenses, US export-import bank financing, and loans over $10 million from US financial institutions,” the State Department said in a notice.

It added that the sanctions apply only to the companies, and not to their governments or countries.



Laaska News.