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Gold/Mining/Energy : Lundin Oil (LOILY, LOILB Sweden)
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To: Tomas who wrote (2033)2/10/2001 10:26:33 PM
From: Tomas  Read Replies (1) of 2742
 
Sanctions halt tops industry wish-list
Upstream, February 9-15
By Robert Smith

The sanctions issue is considered paramount in the US' international energy strategy while access and regulation are seen as priorities as part of a domestic policy overhaul.

"Unilateral sanctions, particularly toward Iran, haven't been effective," says Petroleum Industry Research Foundation chairman John Lichtblau. "We have penalties in place for foreign countries that violate our sanctions but they haven't been enforced," he says.

"Vice President Dick Cheney has spoken out strongly, criticising sanction policies of the Clinton administration and they are likely to change," adds Lichtblau.

Ed Porter of API recalls the impact of sanctions against Iran when, in 1995, Conoco was ready to begin operations in the country. "They were told to get out by our government and within a couple of days Total had moved into their place. We have had a number of similar setbacks in key strategic areas," he says.
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