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Reply #1: Reuters: U.S. hopes new Iran sanctions more scalpel than axe [View All]

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dbt Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jan-03-12 04:45 AM
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1. Reuters: U.S. hopes new Iran sanctions more scalpel than axe
The United States has armed itself with some of the toughest sanctions yet targeting Iran but must carefully assess how to avoid catching energy-importing allies such as Japan, South Korea and India in the crossfire.

President Barack Obama signed the law on Saturday imposing sanctions on financial institutions that deal with Iran's central bank, the main clearinghouse through which OPEC's No. 2 oil exporter deals with clients around the world.

The new U.S. sanctions were pushed through Congress despite misgivings among administration officials, who now must consider how to implement the law without roiling global energy markets or upsetting friendly governments that depend in part on Iranian crude oil imports.

Political analysts said Washington hopes the new sanctions will spur foreign banks to change their behavior before the United States is required to begin freezing them out of U.S. financial markets.

http://www.reuters.com/article/2012/01/02/us-iran-usa-s...

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