U.S. Seeks New Ways to Ban Iran’s Black Gold
According to a new article in the Wall Street Journal, the United States seeks new ways to restrict Iran’s energy, transportation and financial sectors since last week when the United Nation members learned of a second nuclear- fuel facility.
The U.S. Treasury has considered many tactics in the past, but recently Congress has proposed a bill that will target any foreign firms aiding Iran’s oil and fuel sector. Iran lacks refining capabilities and needs to import around 40 percent of its gasoline; therefore, this bill could hurt Iran. The decision will be made by the end of the year.
The U.S. already has a ban from importing any of Iran’s oil, but many European countries as well as Japan are big customers. So, a proposed complete ban is unlikely.
“For sanctions to be effective, there has to be an international commitment,” says Adam Kaufmann, an assistant district attorney in Mr. Morgenthau’s office, who headed the Lloyds probe.
Furthermore, U.S. restrictions on companies doing business with Iran have excluded American firms, including in the oil and gas sector, and opened the door for other countries such as: Russian, European and Asian companies. U.S. officials say Tehran’s inability to refine its own petroleum products is an indication that the sanctions still have bite.
To read the full article, click here.
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Counterfeit Cigs Goes Up in Smoke
The Associated Press has reported the International Trade Commission (ITC) has banned the import of fake cigerettes into the United States that appear to be counterfeit using the same trademark as tobacco company, Philip Morris. A complaint was filed in March to the ITC by representatives at Philip Morris to help in the effort to end the trade in counterfeit, stolen or under-taxed cigerettes entering the U.S.
Philip Morris, owned by Richmond, Va.-based Altria Group Inc., said in a statement that the order will help stop Internet-based vendors from illegally importing cigarettes made abroad without trademark owners’ permission and selling them in the United States.
Since the recent tax increase on tobacco products, grey markets, that sell under-taxed cigerettes to foreign markets, have been an alternative for tobacco users. But, these products are not created under that same health standards and do not carry a warning label.
To read the full article, click here.
ITC Judge Rules No Violation Against Tessera Case
Tessera loses its U.S. trade ruling to get licensing revenue from makers in computer chips. The U.S. Trade Commission judge ruled that the companies Tessera filed against were not in violation and did not infringe its patent rights.
No violation” has “occurred in the importation into the United States, the same for importation, or the sale within the United States,” Essex wrote.
Tessera plans to appeal this decision.
To read more about the case, click here.
European Commission Agrees with Bluefin Tuna Ban
According to Time magazine, the European Commission supports the proposal Monaco sent to the Convention on International Trade in Endangered Species (CITES) to ban the trade of Bluefin Tuna.
“This decision marks an important step in the protection of Atlantic bluefin tuna,” Stavros Dimas, environment commissioner, said in a press release after the agreement was reached. “We must act on the best scientific evidence available to us — and scientists say that urgent action is needed to safeguard the future of one of the ocean’s most emblematic creatures.”
According to the International Commission of the Conservation of Tuna, Bluefin Tuna has declined by 40 percent since the 1970s and has the steepest drop within the last five to ten years.
If the majority leaders in the EU approve this support then it will have significant backing to in the upcoming 2010 vote from CITES.
If the vote passes, it will ban the trade of bluefin tuna for two years.
To read more, click here.
Monaco Seeks Global Trade Ban on Bluefin Tuna
Monaco has given The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITIES), a UN agency, a draft proposal to ban all commercial trade of all Bluefin Tuna as they claim is the world’s most endangered species. Monaco has requested this species be placed on the Appendix 1 list, the agency’s highest grade of protection. According to the article:
Monaco argued that tuna spawning stock in the Mediterranean has declined by 74.2 percent between 1957 to 2007, of which 60.9 percent happened in the last decade…Meanwhile, tuna stock in the west Atlantic has plunged 82.4 percent between 1970 to 2007.
Precautions have been made previously, but Monaco claims it was still above recommended levels and can cause extinction. Last year the International Commission for the Conservation of Atlantic Tunas (ICCAT) met and agreed to reduce trade by 30 percent over the next two years, but the population is still declining.
Monaco is asking for comments to the draft before it submits it’s final proposal at the next general assembly next March in Qatar.
To read more, click here.