Congressional leaders are warning international oil companies looking to invest in Iran that severe financial penalties await them if they move too soon.
The ink is barely dry on world powers' interim deal with Iran to ease sanctions in exchange for a slowdown of Tehran's nuclear program. The primary sanctions on Iran's oil business remain in place. That hasn't stopped petro-giants like Royal Dutch Shell, Italian company Eni, and Austrian oil and gas company OMV from exploring the possibility of renewing their operations in Iran. And those moves have both Democratic and Republican lawmakers livid.
"Companies examining their options for resuming business relationships with the Iranian regime are acting prematurely at best," Rep. Michael McCaul, chairman of the House Homeland Security Committee, told Foreign Policy.