Lawmakers Call on Shell to Disclose Iran Investments

Reps. Brad Sherman (D-CA) and Dan Burton (R-IN) on June 30 sent a letter to the chief financial officer of Royal Dutch Shell urging him to fully disclose his company's investments in Iran. The letter notes that Congress is presently considering  that would authorize the president of the United States to sanction any company providing Iran with refined petroleum products. "Under the worst case scenario, we think you would agree the potential losses to Royal Dutch Shell could be staggering" if the U.S. imposes the sanctions, the letter states. "Investors have a right to know what business Shell is doing in Iran and the risks associated with that business." The lawmakers add that they are sending a copy of the letter to the Securities and Exchange Commission due to Shell's refusal to divulge its activities.

U.S., Israel Sign Agreement on Loan Guarantees

The United States and Israel on June 30 signed an agreement re-approving U.S. loan guarantees to the Jewish state, the Israeli newspaper Ha'aretz reported. In 2002, in response to an Israeli recession triggered by a global downturn and the Palestinian intifada, the United States provided Israel with a package of $9 billion in loan guarantees, which allowed Israel to sell bonds internationally with U.S. backing. The guarantees have been instrumental in sovereign ratings upgrades by credit ratings agencies. "Re-approval of the loan guarantees shows significant faith in Israel's economy by the U.S. government," said Yoram Ariav, the Israeli Finance Ministry's director-general, who signed the agreement on behalf of Israel with his U.S. counterparts.

U.S. General Warns of Iran's Influence in Latin America

The newly appointed head of U.S. Southern Command on June 25 warned of the dangers of Iran's growing influence in Latin America, Agence France Presse reported. "The real concern is not a nation-to-nation interaction, it is the connection that Iran has with extremist organizations like Hamas and Hizballah and the potential risk that that could bring to the region," Gen. Douglas Fraser said during an interview with journalists. Fraser said Iran's support for terrorist groups in Latin America "is a concern, and it is an issue we will continue to monitor for any increasing activity." Western anti-terrorism agents have also warned of the heightened presence of Iranian-backed organizations in South America. In the mid-1990s, Hizballah was responsible for a string of bombings against Jewish targets in Buenos Aires, Argentina, that killed 115 people. More recently, Hizballah chief Hassan Nasrallah declared "open war" against Jews and Israelis worldwide.

House Panel Approves Aid to Israel, Targets Iran

The House Appropriations Committee on June 23 approved a spending bill for U.S. foreign policy and aid efforts, directing $2.22 billion in security assistance to Israel for fiscal year 2010, Reuters reported. When combined with the recently passed emergency supplemental bill that provides $555 million in aid to Israel, the new legislation ensures that the Jewish state will receive a total of $2.775 billion, fulfilling American commitments under a 2007 Memorandum of Understanding calling for $30 billion in security assistance to Israel over ten years. As part of the foreign aid bill, lawmakers adopted an amendment that would prohibit the U.S. Export-Import Bank from extending loans, credits or guarantees to companies that supply Iran with gasoline or help the country's domestic production. "While students are murdered in the streets of Tehran, we should not use taxpayer money to bolster the Iranian economy," said Rep. Mark Kirk (R-IL).