WASHINGTON, D.C.–(ENEWSPF)–September 25, 2012. U.S. Senator Mark Kirk (R-IL) released the following statement in response to the Department of Treasury’s determination regarding the National Iranian Oil Company (NIOC) and the National Iranian Tanker Company (NITC), as required by the Iran Threat Reduction and Syria Human Rights Act of 2012 (ITRSHRA).
“Today’s determination that NIOC is affiliated with Iran’s Revolutionary Guard Corps is long overdue,” said Senator Kirk, who was a co-author of the latest sanctions bill. “Designating NIOC is a critical step in cutting off Iran’s attempts to evade financial sanctions. While it is unfortunate the administration refused to take this important step until forced to do so by the Congress, I am more disappointed that the administration let NITC off the hook.”
ITRSHRA, signed into law on August 10, 2012, required the Secretary of the Treasury to determine within 45 days of enactment whether NIOC and NITC were agents or affiliates of Iran’s Revolutionary Guard Corps (IRGC) and thus merit designation under U.S. law. Section 312 of ITRSHRA also includes a sense of the Congress that both entities “provide significant support” to the IRGC.
In its report today, the Department of Treasury designated NIOC, but stated that it is “not able to determine at this time that NITC is an agent or affiliate of the IRGC.”