Biden: Ties Between U.S., Israel "Unshakable"

Vice President Joe Biden on Tuesday called the United States' bond with Israel "unshakable," The New York Times reported. "There is absolutely no space between the United States and Israel in terms of Israel's security," Biden said. "None." The vice-president continued, "I can promise the nation of Israel that we will meet, as allies, any security challenge that we may face." Biden is in the Jewish state to discuss Iran's nuclear program as well as negotiations with the Palestinian Authority (PA). The vice president praised Israeli Prime Minister Benjamin Netanyahu's desire to reach peace with the PA, even though its leader, Mahmoud Abbas, refuses to enter into direct talks with Israel. "The United States will always stand with those who take risks for peace," Biden told the Israeli leader, adding, "you're prepared to do that."

U.S. Enriches Companies Defying Its Policy on Iran

The federal government has awarded more than $107 billion in contract payments, grants and other benefits over the past decade to foreign and multinational American companies while they were doing business in Iran, The New York Times reported Sunday. The sum includes nearly $15 billion paid to companies that defied American sanctions law by making large investments that helped Iran develop its vast oil and gas reserves. Royal Dutch Shell, for instance, signed an $800 million deal to develop two Iranian oil fields. They have since won federal contract payments and grants totaling more than $11 billion. The Iran Sanctions Act, which became law in 1996, enables the U.S. government to punish foreign companies that invest more than $20 million per year to develop Iran's oil and gas fields. However, no presidential administration has enforced the law in the 14 years since it was passed.

Traders Cut Supplies of Petrol to Iran

In a sign that the threat of sanctions is affecting the way companies do business in Iran, the world's largest oil traders have stopped supplying petroleum to the Islamic Republic, The Financial Times reported Sunday. Energy executives said Vitol, Glencore and Trafigura, which have sold Tehran 130,000 barrels a day-half of the Islamic republic's petroleum imports-stopped supplying refined oil because of mounting political risk. "The political and public relations problems more than outweigh the business rewards," said one executive. Vitol's decision is particularly important as the company is the world's largest oil trader. However, other oil companies such as Total of France and Royal Dutch Shell continue to sell petroleum to Iran. Moreover, Chinese oil traders began supplying fuel to Iran in 2009 and now provide up to one-third of the country's imports.

Netanyahu: I Prefer Direct Talks with Abbas

Israeli Prime Minister Benjamin Netanyahu on Thursday said that although he prefers to sit face-to-face with PA President Mahmoud Abbas, he hopes to begin proximity talks with the Palestinians next week, Reuters reported. "Our ultimate objective is to try to achieve a peace settlement with our Palestinian neighbors by means of direct talks," said Netanyahu. "But we always said we don't necessarily insist on the format." Netanyahu has been calling for direct talks with the PA for months, but Abbas has refused to meet with him until he meets a series of pre-conditions. In the meantime, Israel has taken bold steps for peace-including a building moratorium in the West Bank, the removal of hundreds of roadblocks and increased partnership with the PA to enhance the capabilities of its security forces. Read a Near East Report editorial on Israel's bold steps.