The U.S. State Department imposed sanctions on Belarusneft, a state-owned energy company in Belarus, pursuant to a U.S. law that mandates sanctions on foreign companies investing more than $20 million in Iran’s oil and gas sector. Belarusneft, the second company to be sanctioned by the Obama administration under this law, invested $500 million in a contract with Naftiran Intertrade Company. The sanctions ban Belarusneft from obtaining U.S. export licenses, loans, and government contracts.