U.S. expands Iranian sanctions

Fourth Estate Cooperative Staff

Washington, United States (4E) – The United States on Wednesday expanded sanctions on Iran by restricting the Islamic nation from accessing its own oil revenues and by imposing financial restrictions against its state-run media.

Despite U.S. sanctions, Iran manages to sell oil to nine countries, including China, India and Turkey. However, Tehran cannot access the money it makes from this selling as the amount is credited to an account in those nations and not sent to Iran. Iran can only use this money by purchasing goods from these countries.

According to the U.S. Treasury department, the latest sanctions would effectively block Iranian oil revenue overseas. Treasury Under-Secretary David Cohen, “We will also target those in Iran who are responsible for human rights abuses, especially those who deny the Iranian people their basic freedoms of expression, assembly and speech.”

The Obama administration would continue such tough restriction until Iran surrenders its ambitious nuclear program, he added.

The West believes the program is aimed at developing an atomic weapon – a charge Iran vehemently denies and insists that it is only for civilian purpose. Meanwhile, international community is due to hold talks on Iran’s nuke program later this month.

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