Washington, April 25: Sources close to a survey argue that Washington cannot afford to tighten the leash on Iran’s foreign fuel suppliers as it would seriously damage the US economy.
In a survey published on Thursday, the Government Accountability Office (GAO) identified more than 41 foreign companies that helped Iran develop its oil and gas sector over the past five years, The New York Times reported.
According to congressional investigators, the companies have enabled Iran to increase energy production and profits by offering expertise, equipment and financing as well as assistance with the construction of domestic oil and gas pipelines.
However, sources close to the survey said on condition of anonymity that imposing sanctions on the 41 companies will most likely damage the US economy since some of them are major global companies, the Yomiuri daily reported on Saturday.
They add that the GAO report was largely intended to put pressure on the companies to voluntarily withdraw their financial dealings, which amount to millions of dollars, from Iran.
A Japanese oil company, INPEX Corp. and an engineering firm, JGC Corp. were among the companies facing potential US sanctions for their investment in Iran.
INPEX has been involved in the development of the Azadegan oil field in southwest Iran, while JGC helped the country expand a refinery located in the central city of Arak.
This list also mentions Austria’s OMV AG, Brazil’s Petrobras and China’s National Petroleum Corp. along with China Petroleum & Chemical Corporation.
The report comes at a time when Washington is preparing broad-based sanctions against companies supplying Iran with gasoline or helping it expand its refineries.
——–Agencies