UANI Statement on Possible Delay of EU Insurance Ban on Iran Oil Shipments

May 9, 2012
Contact: Nathan Carleton,
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UANI Statement on Possible Delay of EU Insurance Ban on Iran Oil Shipments

New York, NY - United Against Nuclear Iran (UANI) CEO, Ambassador Mark D. Wallace, issued the following statement Wednesday regarding reports that the U.K. is seeking to persuade fellow EU members to postpone a ban on insurance for tankers carrying Iranian oil by six months:

It is imperative that the EU's ban on Iranian oil take effect as planned on July 1 and that all EU member countries confirm their commitment to a full and unified effort to increase the economic pressure on the Iranian regime. Iran's economy is feeling the impact of international sanctions, and it is now time to not only keep that pressure on, but increase it. The regime will not change course due to half-measures, and will always take advantage of loopholes and delays.

The insurance and shipping sectors are areas where the international community can dramatically increase pressure on the regime. There are inherent risks in doing business in Iran, and if companies are forced to assume the full ramifications of those risks, they will be more likely to pull out.

It is incumbent on the international community to show the regime its resolve in that it means what it says, and is willing to take whatever action is necessary to prevent Iran from gaining a nuclear weapon. The 'all options are on the table' approach to Iran is the correct one, but the regime will only take it seriously if the international community shows it is willing to follow through on already-planned sanctions.