Royal Dutch Shell halts gasoline sales to Iran

By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney.com) -- Royal Dutch Shell has stopped selling gasoline to Iran, the company confirmed Wednesday, adding to a list of oil giants that have stopped sales after a threat of future U.S. sanctions.

Royal Dutch Shell (RDS) said it had no official announcement beyond the confirmation, but according to someone with knowledge of the situation the company ceased gas sales to Iran sometime in 2009.

"Shell is currently not selling gasoline to Iran," a Shell spokesman said, but he would not comment on whether the decision was related to talk of possible U.S. sanctions on Iranian gasoline imports.

Concerns have grown over Iran's nuclear program, and last month the Senate passed a bill that would allow President Obama to expand sanctions against Iran to pressure the republic into dropping its plans.

Iran says its nuclear program is for peaceful purposes, but some fear the country wants to develop nuclear weapons. Under the Senate bill, Obama could impose new sanctions that would ban most direct imports and exports between Iran and the United States.

"If there was new legislation or sanctions, obviously we would comply with them as we would for any country," the Shell spokesman said.

The House passed its own sanctions bill last year, and in order to become law the two bills would have to be merged and approved by both bodies before going to Obama for his signature.

According to Reuters, Shell shipped about 1.65 million barrels of gasoline into Iran from April through October 2009.

In a State Department briefing, spokesman P.J. Crowley said the agency would continue "to move forward with prospective sanctions, and I expect you'll see this advance over the next several weeks."

Crowley added: "We are looking for countries and companies to be supportive as we try to find the right formula to put economic and political pressure on Iran to change its course."

-- CNN's Adam Levine contributed to this report. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 32,627.97 -234.33 -0.71%
Nasdaq 13,215.24 99.07 0.76%
S&P 500 3,913.10 -2.36 -0.06%
Treasuries 1.73 0.00 0.12%
Data as of 6:29am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET
Sponsors

Sections

Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.