Raisethefist.com: New Iran sanctions hit banks in China, Iraq
New Iran sanctions hit banks in China, Iraq
by anonymous Wed Aug 1 00:25:37 PDT 2012
President Barack Obama announced new U.S. sanctions targeting Iran's oil Tuesday as well as banks in China and Iraq, warning that Tehran faces "growing consequences" for refusing to answer international questions about its nuclear program.
Obama said China's Bank of Kunlun and the Elaf Islamic Bank in Iraq "facilitated transactions worth millions of dollars" for Iranian banks already under sanctions.
"By cutting off these financial institutions from the United States, today's action makes it clear that we will expose any financial institution, no matter where they are located, that allows the increasingly desperate Iranian regime to retain access to the international financial system," Obama said in a statement issued by the White House.
On a conference call with reporters Tuesday, Ben Rhodes, deputy national security adviser for strategic communications, said the purpose of additional sanctions was to "affect Iran's calculus" to get Tehran to negotiate seriously over its disputed nuclear program.
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