(WASHINGTON) -- On Thursday, the U.S. announced it would take action against international companies doing business with Iran's energy sector.
Deputy Secretary of State James Steinberg told reporters Thursday that the new sanctions would be imposed on Naftiran Intertrade Company, a Swiss-based subsidiary of Iran's national oil company, which he said brought major sums of cash into the county. The State Department said that it was considering similar moves against other companies elsewhere, but would not provide details.
Steinberg added that, as a result of previous sanctions against Iran, an additional four foreign energy companies have said that they were discontinuing doing business with Iran, including France’s Total, Norway’s Statoil, Italy’s ENI, and Royal Dutch Shell.
"People are increasingly reaching the conclusion that it's simply not worth it to engage in activities with Iran," Steinberg said.
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