Not very, says Jerry Guo:
In reality, multinationals with American ties are now forbidden from making investments of more than $20 million, down from $40 million, hardly a game changer. The same bill retains a loophole that gives Obama the right to issue waivers for companies from allied countries.Itâ??s doubtful Washington will enforce the new sanctions. An administration official recently admitted he didnâ??t know what punishment, if any, had been meted out to seven foreign companiesâ??including Danish shipping giant Maerskâ??that hold $1 billion in U.S. government contracts alongside investments in the Iranian energy sector. Sanctions approved by the EU in July do not even cover energy, and firms like Germanyâ??s Thyssen-Krupp and Linde Group continue to service Iranâ??s natural-gas and refinery projects.
(AP Photo)
