United States Adds New Iran Sanctions

The United States added new Iran sanctions on Wednesday when they blacklisted Iran’s state broadcasting authority, internet-policing agencies, and a major electronics producer.

The action widened American sanctions against the Middle Eastern nation as the fight continues over Iran’s disputed nuclear program.

The New York Times reports that the sanctions are also meant to target domestic dissent, as well as the lack of access to information in the country.

The US Treasury Department also announced that they will tighten restrictions under a law passed last year. The restrictions are aimed at inhibiting Iran’s already weakened ability to repatriate earnings from oil, the country’s most important export.

Treasury undersecretary for terrorism and financial intelligence David S. Cohen is responsible for the sanctions effort on Iran. He stated that Wednesday’s actions are meant to “intensify the economic pressure against the Iranian regime.”

The Wall Street Journal notes that the US has used the threat of more sanctions against Iran for months. Washington hopes that by restricting the country’s access to cash, it will force Tehran to give up the nuclear program.

The US initially gave India and several other nations a waiver from sanctions if they significantly reduced their imports of Iranian oil. Now, however, that waiver is gone. The Obama administration announced that countries who buy crude oil from Iran will have to use banks inside their own borders to make their payments.

The move keeps Iran from getting a hold of the money the other countries pay them. Those banks cannot send the money to Iran or anywhere else overseas. The move forces Iran to buy local products with the proceeds of its crude oil sales.

Do you think that more US sanctions against Iran will be effective?

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