Four large European energy firms have agreed to cut business ties with Iran, avoiding possible sanctions under a US law aimed at discouraging foreign companies from investing in Tehran's energy sector, DPA reported.
Total of France, Statoil of Norway, ENI of Italy and Royal Dutch Shell, which is a British and Dutch firm, have assured the US government they are winding down any operations in Iran, Deputy Secretary of State James Steinberg said.
"These companies have provided assurances to us that they have stopped or are taking significant, verifiable steps to stop their activity in Iran and have provided assurances not to undertake new energy-related activity that may be sanctionable," Steinberg said.
Meanwhile, Steinberg announced new sanctions against a Swiss-based subsidiary of the National Iranian Oil Company under the congressional law passed in July. The sanctions on the Naftiran Intertrade Company, or NICO, are the first since the law was enacted.