Israel Matzav

Australia adopts sanctions against Iran

Australia has announced that it will follow in the footsteps of the US, the EU and Canada by imposing sanctions beyond those enacted by the United Nations against Iran's oil and gas industry.

"In adopting this package, Australia stands at the forefront of international community efforts to have Iran meet its international obligations in relation to its nuclear program, one of the most serious security challenges facing the international community," Foreign Minister Stephen Smith said in a statement.

The sanctions further reinforce a June UN resolution against Iran that Australia has already implemented.

The new measures include travel and financial bans against more than 110 businesses and individuals in Iran's financial and transport sectors. The sanctions also include a trade ban on all arms and related material, including anything that could be used for nuclear, missile, chemical and biological weapons development.

For the first time, Australia will restrict business with Iran's oil and gas sector. Smith said the UN resolution had noted a link between the revenue generated by that sector and funding for Iran's proliferation activities.

Business dealings in uranium mining or involving nuclear or missile technology are also prohibited under the new sanctions, Smith said.

Faster, faster.

posted by Carl in Jerusalem @ 1:56 PM