The Obama administration has announced that four major European oil companies have agreed to end their energy investments in Iran. The US reached agreements with Royal Dutch Shell, Total, Eni and Statoil under a new round of sanctions approved in July. Deputy Secretary of State James Steinberg announced the move in Washington.

James Steinberg: “I am pleased to announce that we have received commitments from four international energy firms to terminate their investments and avoid any new activity in Iran’s energy sector, delivering a significant setback to Iran. These are the first public actions involving companies investing in Iran’s energy sector since the ISA was expanded by Congress on July 1st, when President Obama signed the Comprehensive Iran Sanctions, Accountability and Divestment Act into law.”