Aletho News

ΑΛΗΘΩΣ

New Iran sanctions bill to kill 20,000 US jobs each year

Press TV – May 13, 2010

Major US firms are warning Congress against passing legislation to impose new sanctions against Iran, saying such sanctions will further damage the US economy.

Boeing Co. and Exxon Mobil Corp. are lobbying to fend off tightened sanctions against Iran that business groups say will cut US exports.

Current legislation before Congress would expand a 1996 law penalizing foreign companies that invest in Iran’s oil industry. US firms, already barred from investing Iran, say their sales worldwide could be hurt by provisions that ban doing business with companies in Europe, Russia or China that trade with Iran.

“We are up on Capitol Hill talking about the collateral damage,” William Reinsch, president of the National Foreign Trade Council, a Washington-based group that represents Exxon and Boeing, said in an interview.

The US National Association of Manufacturers or NAM is also pitching some alarming findings. The group says a new round of tougher sanctions on Iran could cost the US, $25 billion in exports.

NAM says it’s also likely that up to 20,000 workers are laid off each year, if Congress allows the legislation to become law.

May 13, 2010 - Posted by | Economics, Timeless or most popular, Wars for Israel

4 Comments »

  1. Let us see how the Israeli-inspired hatred of Iran that seems to have infected the US will change their resolve in relation to sanctions against Iran.
    One thing one can safely say about the US, shackled as they are by Israel, totally subservient to their dictates and having lost the respect of the whole world as a result, they still remain conscious of the votes in electorates and how decisions affecting jobs and foreign revenues still have some priority even against such Israeli dictates.
    Let’s see what happens here. The cards in this game are held by Israel but they are not actually sitting at the card table, but they are there in the guise of any Congressman or Senator who has sold his soul for a buck and any public servant who wants to keep his job.

    Like

    rexw's avatar Comment by rexw | May 13, 2010 | Reply

    • I basically agree except that I think they will forge ahead to screw Iran and further screw the American people with their Israel first agenda. The propaganda machine will churn out more “Poor Israel” baloney and a couple of Hollywood holocaust movies.
      Remember, as far as they’re concerned, there is no limit to the price we have to pay for their demonic agenda.

      Like

      GREG's avatar Comment by GREG | May 14, 2010 | Reply

    • I don’t agree. Madam secretary Clinton has lost her mind. Obama is what? The Congress/Senate is controlled by AIPAC.

      Only Russia and China and their friends will be the game changers, Russian defense weapons in Syria, Iran and Lebanon will keep the Yanks and the mad Zionist dog Israel in balance.

      …Americans in general have no conscience whatsoever, nor do the know how to do real business, if the Americans can’t steal or force they can’t do a thing.

      Like

      Holocaust Gaza's avatar Comment by Holocaust Gaza | May 15, 2010 | Reply


Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

« Previous | Next »