NCRI, 30 Oct 2013 – Robert Menendez, the chairman of the Senate Foreign Relations Committee, told a meeting of the AIPAC meeting in New York on Monday that a package of sanctions ready to move in his chamber has a goal of cutting the Iranian regime’s current oil exports to no more than 500,000 barrels per day.
The reduction being sought is about 500,000 bpd less than a more severe bill passed by the House of Representatives in July, which aimed to slash exports to nearly zero.
The Senate bill, which has yet to be introduced by the banking committee, has been widely expected to be weaker than the House bill, which some analysts had said was not realistic.
Since the beginning of 2012, U.S. and European sanctions have already cut Iran’s oil exports to about 1 million bpd from about 2.5 million bpd, costing the Islamic Republic crude sales worth billions of dollars a month, and helping to spike inflation and unemployment.
Source: Reuters
