The New York Times on May 18, 2012 released the following:
Senate Republicans blocked legislation for new economic sanctions on Iran’s oil sector on Thursday, saying they needed more time to study the bill, a surprise move that drew anger from Democrats who wanted approval ahead of nuclear talks next week. Senators from both parties said they still expected that the sanctions would pass, although the timeline was not immediately clear. The sanctions are meant to shut down any financial deals with Iran’s state oil and tanker enterprises, stripping Tehran of oil revenues. The revenues support Iran’s nuclear program, which the United States says is a cover for developing the capability to build atomic bombs, while Iran says it is for civilian purposes.”
Douglas McNabb – McNabb Associates, P.C.’s
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