US congress extends sanctions on Iran, Libya

The US congress on Thursday extended for five years a law that goes back to the year 1996, imposing sanctions of foreign companies which invest in the sectors of oil and gas in Libya and Iran.

The US senate approved " the sanctions law against Iran and Libya with a majority " the consent of 96 senators and the opposition of two). The law will be submitted to the US President George Bush to sign it so as to be enforced. The law states sanctions which target foreign companies which invest more than USD 20 million annually in the sector of energy in Iran and Libya, the two countries which are considered by Washington as supporting terrorism.