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U.S. Embassy Is Warning Beijing on Iran Gas Deal Posted: Friday, December 29, 2006 WASHINGTON -- The Bush administration and Congress are warning that a proposed $16 billion deal between a Chinese company and Iran could trigger economic penalties under an American law aimed at starving Iran of funding for terrorism and nuclear weapons. Officials at the American embassy in China delivered a demarche Saturday in Beijing. They demanded an explanation of the deal from Chinese government officials and warned them that it could trigger a 1996 law, the Iran Libya Sanctions Act. The law prohibits foreign firms that invest more than $10 million in Iran's energy sector from raising capital in American financial markets. Full Article : nysun.com |
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