New York, NY, June 17, 2010 … The Anti-Defamation League (ADL) welcomed the European Union's decision today to enact serious sanctions against Iran, which target Iran's oil and gas sectors and tighten financial and trade prohibitions.

Abraham H. Foxman, ADL National Director, issued the following statement:

Serious sanctions must target Iran's oil exports.  Oil revenues are the economic basis for the regime's survival, the one thing the regime values higher than nuclear weapons.

Reports of the provisions covered by the European Union sanctions are promising, because prohibitions on European involvement in Iran's oil and gas sectors should impact Iran's future cash flow.  If Europe joins America in preventing their energy firms from operating in Iran, the sanctions will create even more difficulties for Iran to modernize its oil industry, to raise output through Western efficiency techniques, and to open new markets for its gas through liquefaction. 
 
While the impact on Iran's finances will be in the future, these sanctions should impact the regime's decision-making today.  With non-American sanctions targeting Iran's oil industry, a significant new step has been taken.  Iran's oil is no longer exempt.  Iran should understand that beyond these measures lies the possibility of further sanctions with near-term impact on Iranian oil exports.

The Anti-Defamation League, founded in 1913, is the world's leading organization fighting anti-Semitism through programs and services that counteract hatred, prejudice and bigotry.