Crippling sanctions tighten their grip

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American and European powers tightened the already constricting sanctions on Iran in hopes of deterring Iran's ongoing attempt at nuclear weapons, news sources reported.

Iran's already crippled economy now faces stricter sanctions on their oil trade, forcing the nine countries waived to purchase Iran's oil to deposit their payments in an account that only allows Iran to spend the funds to purchase goods from that country, reported the BBC.

Treasury Under Secretary David Cohen told BBC that the US would continue to tighten restrictions "so long as Iran continues to fail to address the concerns of the international community about its nuclear programme."

Separate measures are being placed on Iran's media landscape which has continually suppressed dissent, the BBC reported.

The U.S. and Israel hope these new sanctions will pressure Iran to submit to a nuclear deal that would drastically change their current operation, reported The New York Times.

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This page contains a single entry by fisch690 published on February 7, 2013 11:41 AM.

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