- 27 June 2012
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- NIAC round-up
Congress Eyes More Sanctions
U.S. lawmakers are seeking to finalize Iran sanctions legislation in July. Senator Menendez said, “‘We’re trying to see if we can get the House either to largely accept what we put through, or to come to what would be a quick staff conference that would lead us to a final conclusion that we could ratify.’” (Reuters 6/27; Reuters 6/27).
Iran Threatens Retaliatory Embargo on South Korea
In response to South Korea’s announcement that it will suspend all oil imports from Iran, Iran has announced that it may put on an embargo on all goods from South Korea. According to the Korean Ministry of Knowledge Economy, South Korea’s shipments to Iran amounted to $6 billion last year (CNN 6/27; The Korean Times 6/27).