US steps up sanctions on Iran, Russia says that's unacceptable
The United States, United Kingdom and Canada instituted new sanctions against Iran on Monday, which Stalin's successors in the Kremlin have called 'unacceptable.' This is from the first link. The US Treasury announced late Monday night that it has imposed sanctions on 11 entities and individuals under an existing executive order for their alleged assistance to Iran's nuclear program, including its enrichment and heavy-water programs. Their assets were frozen and any US person is banned from doing business with them.Stalin's successors in the Kremlin rushed to defend Iran. This is from the second link.
Treasury Secretary Timothy Geithner issued a warning that any firms doing business with Iran's banking sector could run the risk of funding illicit activities.
The US government named Iran as "a primary money laundering concern," but stopped short of adopting fully blown sanctions against Iran's central bank that could strain ties with European and Asian allies.
But, Geithner warned, "financial institutions around the world should think hard about the risks of doing business with Iran."
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The White House also issued an executive order that targets Iran's energy sector. Any single transaction worth $1 million or more that supports the development of Iran's petroleum resources is banned under the new order, as is any transaction of $250,000 or more to maintain or expand the country's petrochemical sector.
Iran's energy sales are thought to account for around 70% of the government's budget and are crucial to the broader Iranian economy.
Russia's Foreign Ministry denounced new US sanctions against Iran on Tuesday as "unacceptable and contradictory to international law," Interfax news agency reported.Russia hasn't changed a whole lot since the 1940's and 1950's, has it? Oh, it had for a while, but then the Obama re-set came along.
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Iran dismissed new sanctions as more a propaganda exercise than something that will hit the economy.
"Such measures are condemned by our people and will have no impact and be in vain," Foreign Ministry spokesman Ramin Mehmanparast told a news conference Tuesday.
What could go wrong?
Labels: Iran sanctions regime, Iranian nuclear threat, Mahmoud Ahmadinejad, Russia, Vladimir Putin
posted by Carl in Jerusalem @ 1:29 PM
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