Video of Congressman Sherman in Action
Washington, D.C. - Congressman Brad Sherman (CA-27) today issued the following statement in response to a report in India’s Business Standard newspaper (attached) that Reliance Industries Limited (RIL) has decided to stop selling refined petroleum to Iran after fulfilling its current contractual obligations:
“It appears that RIL has made a decision to cease selling gasoline to Iran. This is a welcome development. It is clear that if we are to convince Iran to abandon its nuclear program, we will need a manifold increase in the economic and diplomatic pressure on Tehran.
“Refined petroleum products are an Achilles heel for Iran, which must import nearly half of its gasoline. RIL has provided as much as 30 percent of Iran’s petroleum imports
“My colleagues and I will continue to monitor this critical issue. By temporarily forgoing business opportunities with Iran, our trading partners can play a critical role in deterring Iran from developing nuclear weapons.”
Sherman, who chairs the House Foreign Affairs Subcommittee on Terrorism, Nonproliferation and Trade, led a bi-partisan group of House members in writing to the U.S. Export-Import Bank last month, requesting that the bank suspend loan guarantees promised to RIL for expansion of its Jamnagar facility until RIL commits to stop selling Iran refined petroleum.
