iran

"Sanctions
In March 2004, President Bush extended sanctions originally imposed in 1995 by President Clinton for another year, citing the "unusual and extraordinary threat" to U.S. national security posed by Iran. The 1995 executive orders prohibit U.S. companies and their foreign subsidiaries from conducting business with Iran, while banning any "contract for the financing of the development of petroleum resources located in Iran." In addition, the U.S. Iran-Libya Sanctions Act (ILSA) of 1996 (renewed for 5 more years in July 2001) imposes mandatory and discretionary sanctions on non-U.S. companies investing more than $20 million annually in the Iranian oil and natural gas sectors." http://www.eia.doe.gov/emeu/cabs/Iran/Background.html

i decided to do a little research on american interest in iranian oil. its kind of in the forefront with the un threatening sanctions. i wonder what influence this sanction will reallty have when any foreign company investing more then twenty mil a year is already sanctioned by the u.s. my guess is that these sanctions are already keeping a majority of big players out of iran, which may be a part of irans casual attitude towards this threat.
ofcourse, i am not that knowledgable on the subject and it would require much more research on my part to really say anything that is of much merit.