U.S. Announces New Sanctions Against Iran

July 31, 2012

by RFE/RL

The United Sates has imposed sanctions on banks in China and Iraq that the White House says have helped Iran evade international sanctions.

The new sanctions target China's Bank of Kunlun and Iraq's Elaf Islamic Bank.

In a statement, the White House said the sanctions exposed the financial institutions that assist "the increasingly desperate Iranian regime" to access the international financial system.

The statement also said Washington was expanding sanctions on the purchase of Iranian petrochemical products.

Many Western countries, who suspect Iran is seeking nuclear weapons, have boycotted the import of Iranian oil.

The Iranian regime denies the claim.

With reporting by AP

Source: http://www.rferl.org/content/new-us-sanctions-on-iran/24662781.html

Copyright (c) 2012. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036.