Four European Oil Firms Stop Investing in Iran


The United States announced that four of Europe’s five biggest oil companies (Total, Shell, Statoil and Eni) would end their energy investments in Iran, an attempt to bolster the Obama administration’s efforts to pressure Iran into entering negotiations over its nuclear program.

Lloyd’s of London also announced it would not insure petroleum shipments going into Iran.

A chart of the major "big oil" companies (Author: Boereck, Hamburg)

A chart of the major "big oil" companies (Author: Boereck, Hamburg)

“The goal here is not to impose sanctions for sanctions’ sake but to end companies from doing business with Iran,” Deputy Secretary of State James B. Steinberg said.

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