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NFTC in the News

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What do Iran sanctions cost you? About 25 cents a gallon, experts say.
Date: 4/5/2012
Written By: Christian Science Monitor, By Howard LaFranchi

Excerpt: Twenty-five cents a gallon – that’s about how much some international energy experts say the tough US sanctions on Iran’s oil industry are costing Americans at the pump. As US consumers cope with gas prices that are approaching an average of $4 a gallon, some international trade experts say the cost of the sanctions the US imposes – as in the case of the Iran measures – is something political leaders should discuss more openly. Instead, they say, most politicians act as if sanctions affect only the country targeted – something these experts say isn’t true. “The approach is always that the costs are for them and the benefits are for us,” says Bill Reinsch, president of the National Foreign Trade Council (NFTC), a Washington lobbying organization that generally opposes economic sanctions. “The Iran case is interesting,” he adds, “because of the impact of sanctions on our energy sector.”