Menendez Welcomes Administration Decision to Designate the National Iranian Oil Company
Urges Further Investigation into Ties between the IRGC and Iran’s Tanker Company
September 24, 2012
WASHINGTON, DC – U.S. Senator Robert Menendez welcomed the decision by the Department of Treasury to designate the National Iranian Oil Company (NIOC) as an entity controlled by the infamous Iranian Revolutionary Guard Corp (IRGC) and urged the Administration to continue investigating links between the National Iranian Tanker Company (NITC) and the IRGC.
“Today’s designation of NIOC is essential to our effort to isolate the Iranian leadership and put a price on Iran’s nuclear ambitions,” said Senator Menendez. “Not only will the designation force financial institutions that do business with the United States to cease engaging in transactions with the NIOC, it also supports our effort to encourage significant reductions in purchases of petroleum from Iran by putting purchasers and insurers of Iranian petroleum on notice that a transaction with the NIOC is no different than a transaction with the IRGC, a known supporter of proliferation and terrorism activities.”
The IRGC is an elite military organization in Iran known to be active in proliferation and terrorism activities. Menendez authored the amendment to the recently enacted Iran Threat Reduction and Syria Human Rights Act of 2012, which requires that the Treasury Department investigate and make a determination within 45 days of enactment on whether the NIOC and NITC are agents or affiliates of the notorious IRGC.
“I remain concerned about linkages between the IRGC and the NITC and I am disappointed that the NITC wasn’t designated at this time. I urge the Administration to continue investigating those linkages,” Menendez added.
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