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May 25, 2011

U.S. Sanctions Oil Firms for Iran Dealings 
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The Obama administration has unveiled new sanctions against Venezuela's
state oil company and six other global firms involved in trade with
Iran. U.S. Deputy Secretary of State James Steinberg unveiled the
sanctions in Washington.

James Steinberg: "This administration, which is the first to impose
sanctions on firms under the Iran Sanctions Act, has been working
aggressively to prevent Iran from developing its energy sector. Iran
uses revenues from its energy sector to fund its nuclear program as well
as to mask procurement of dual-use items. Today's actions adds further
pressure on Iran to comply with its international obligations."



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