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US sanctions Swiss company for Iran dealings

From Laurie Ure, CNN
  • The U.S. hopes to discourage business deals with Iran
  • Four oil companies plan to cut back on Iranian trade, U.S. says

Washington -- The United States is imposing economic sanctions on Swiss-based Naftiran Intertrade Company for engaging in energy trade with Iran, according to Deputy Secretary of State James Steinberg.

The action is intended to discourage international dealings with Iran, Steinberg said.

Four oil companies -- Total, Statoil, Italy ENI, and Royal Dutch Shell -- have agreed to cut back on Iranian trade, and will receive no further U.S. sanctions, he said.