The United States and its international partners have implemented a broad range of sanctions targeting Iran to deter it from developing a nuclear program, supporting terrorism, and continuing human rights abuses.
Several U.S. agencies play key roles in implementing the following sanctions:
- The United States has banned almost all non-humanitarian U.S. trade and investment with Iran and has prohibited firms from knowingly transshipping U.S. goods to Iran through other nations. U.S. agencies have conducted investigations to uncover Iranian procurement networks and prosecute firms and individuals that violate the trade and transshipment bans. Nonetheless, Iran has obtained some U.S. military and dual-use goods that were illegally transshipped through intermediaries in third-party nations.
- The Iranian economy relies heavily on revenue from its oil and gas industry and the United States has tried to limit Iran’s ability to explore for, extract, refine, or transport its petroleum resources. However, foreign firms have reportedly sold refined petroleum products to Iran.
- The United States has enacted financial sanctions which restrict Iranian access to the U.S. financial system. U.S. and international sanctions have adversely affected the Iranian economy.
Forecasts of Iran’s Gross Domestic Product Made before and after Imposition of U.S. and International Sanctions
Note: The Economist Intelligence Unit is the research and analysis division of The Economist Group, the sister company to The Economist newspaper. HIS Global Insight is a provider of global market and economic information.
Excerpted from GAO-13-326
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