US imposes new sanctions on Iran oil sector

Source: Yahoo News


US President Barack Obama imposed new economic sanctions Tuesday targeting Iran's oil export firms and a pair of Chinese and Iraqi banks accused of doing business with them.

In a statement released by the White House, Obama said the new measures underlined the United States' determination to force Tehran "to meet its international obligations" in nuclear negotiations.



Read more: http://sg.news.yahoo.com/us-imposes-sanctions-iran-oil-sector-182950564.html

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President Barack Obama announced new U.S. sanctions targeting Iran's oil Tuesday, warning Tehran that it faces "growing consequences" for refusing to answer international questions about its nuclear program.

The first set of sanctions announced will target the Islamic republic's energy and petrochemical industries, a move designed to "deter Iran from establishing payment mechanisms for the purchase of Iranian oil to circumvent existing sanctions," a White House statement explains.

http://news.blogs.cnn.com/2012/07/31/white-house-announces-additional-sanctions-against-iran/