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United States Sanctions

United States Sanctions. Iran & Petroleum Export.

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United States Sanctions

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  1. United States Sanctions Iran & Petroleum Export

  2. “When the human body falls into a cold river, the warm blood rushes to the heart as to allow the body time to survive. A state under sanctions follows much of the same biological rules as the human body, in which resources are diverted to the central government as to increase its survival rate.” -Abad Allawi In perspective

  3. 1. The United States congress is the only branch authorized to impose sanctions. (Constitution) • 2. The Department of State can assist congress in drafting legislation and can aid in the removal of sanctions. • 3. Once legislation is implemented, the Department of Treasury “specifically OFAC” (Office of Foreign Asset Control) enforces economic and trade sanctions against foreign government. Ground Rules

  4. Iran has had US Sanctions since the Carter administration. • Important Sanctions • Iran Sanctions Act 1996 • Targets weapons/Oil Gas exports/Individuals, Corporations, and Banks/Presidential Capacity and Limitations • Executive Orders: List: • http://iranprimer.usip.org/resource/timeline-us-sanctions History

  5. U.S. sanctions on Iran have been in place since the fall of the Shah in 1979, however, these sanctions have continuously evolved and dramatically expanded since post 1996. According to the U.S., Iran’s support for international terrorism, its pursuit of weapons of mass destruction, supplying arms to insurgents operating in Iraq and Syria have been the main cause of sanction implementation and expansion. Iranian sanctions are economic and therefor include prohibiting U.S. corporations, banks, and individuals from any dealings with the state of Iran. Sanctions have increased dramatically after Iran began acquiring nuclear capability. Background

  6. Although these new crippling sanctions have brought Iran to the negotiation table to halt nuclear development, an overarching problem has been brought to light. A rift has developed between the white house and congress in the level and timing of new sanctions with the former arguing for more time for negotiations and the latter wanting the opposite. The conclusion of this rift may decide if Iranian export of crude will: • Enhance global supply and lower prices for the US and other nations • Cripple the Iranian Economy and continue volatility in global market prices of crude, oil and gas. not only as a lifeline for their economy but as a stabilizer in terms of supply and price in international markets. • Increased sanctions could cause doubt in the Iranian regime and enhance public outcry. Summary

  7. Due to the specificity of Trade v Economic sanctions my focus will be on: • Petroleum, Petroleum based products, imported and exported, other exportable goods like • Rather than: • Banking sector, (Currency)* Executive Orders

  8. American: • Increase sanctions-Increased volatilty…Worth the risk? Iranian backlash in the region? Oil prices skyrocket? • Decrease sanctions-Give Iran breathing space income goes to domestic repair…could go to further Iranian goals in Iraq Syria and Lebanon • Iran: • Increased sanctions: closer to goal of Nuclear independence…at what cost? Public outcry? • Decrease sanctions: termination of nuclear ambition increased gain in region. View Point Factors

  9. US Iran Sanction 1996: Includes US sanctions of Iran in the Clinton Administration. Later expanded in 2000s ://www.treasury.gov/resource-center/sanctions/Programs/Documents/isa_1996.pdf • List of Sanction Executive Orders in an organized timeline: http://iranprimer.usip.org/resource/timeline-us-sanctions • National Foreign Trade Council report discussing normalization of economic relations with Iran and what that means for the US and Iranian economies.http://www.nftc.org/default/trade/NFTC%20Iran%20Normalizaton%20Book.pdf • This link provides an O.F.A.C. review of the Iranian sanctions.http://www.treasury.gov/resource-center/sanctions/Programs/Documents/iran.pdf Sources

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