Iran-Sanctions Bid Targets Oil, Tanker Companies’ Sales

A U.S. proposal to sanction Iran’s state-owned oil company and its main tanker fleet may ensnare any person or business in the world involved in purchasing or shipping Iranian oil.

Tensions over Iran’s nuclear program have risen sharply in the last week, with U.S. officials such as Defense Secretary Leon Panetta expressing concern about a potential Israeli military attack by mid-year. As a result, pressure is mounting for additional steps against Iran’s economy to force Iranian Supreme Leader Ali Khamenei to halt his country’s suspected pursuit of nuclear-weapons capability.