U.S. Congress Approves New Sanctions Against Iran
The U.S. House of Representatives approved a new bill that would tighten economic sanctions against Iran. According to the BBC, the document suggests reducing Iran's oil exports by another one million barrels a day within a year. The bill was supported by 400 voters and opposed by 20.The sanctions were approved a few days before the inauguration of the new Iranian president, Hassan Rouhani.
Congressional bills include a "black list" of mining and construction sectors of Iran and aim to completely block the export of Iranian oil by 2015. Coming into force last year, U.S. sanctions have led to a halving of Iranian oil supplies abroad. In June, the U.S. also imposed additional sanctions against Iran to prevent the development of nuclear weapons in the country.
According to the measures taken, sanctions will be subject to financial institutions that buy or sell Iranian rials and have accounts in that currency. "While the rial has lost since the beginning of 2012 half of the cost because of our comprehensive sanctions, for the first time our target is the trade itself in this currency," says the White House report.
New sanctions apply to Iranian goods and services associated with the Iranian automotive industry - the production of cars, trucks, buses and motorcycles. Subject to the sanctions is also providing material support for those Iranian activities upon which restrictions have already been imposed. An exception is made for a number of Iranian financial institutions and activities that relate to the project pipeline to supply gas from Shah Deniz (Azerbaijan) to Europe and Turkey.
* U.S. accuses Iran of developing nuclear weapons and seeks tougher UN sanctions, as well as tightening its own sanctions.
Wendy Sherman, U.S. Undersecretary of State, said that international sanctions against Iran effectively weaken the economy of the Islamic Republic and deprive it of $ 3 billion to $ 5 billion every month. -02D-
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