Iraq would likely violate U.S. sanctions if it follows through with a series of proposed oil and gas projects with Iran, or if it continues to export fuel and oil via tanker truck – some of which is alleged to be smuggled.
President Obama earlier this month signed a law upgrading sanctions against Iran in response to Iran's disputed nuclear program. Since the mid-1990s, U.S. policy has essentially presented companies with an ultimatum: if they choose to do business with Iran, then they risk losing access to American markets.
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