Tags: US | US | Iran | Sanctions

US Hits Iran with New Sanctions

Tuesday, 30 Nov 2010 01:14 PM

 

WASHINGTON (AP) — The Obama administration is slapping new sanctions on Iran over its suspect nuclear program, targeting Iranian companies for funding the illicit development and spread of weapons of mass destruction.

The Treasury announced on Tuesday that it had blacklisted 10 Iranian businesses affiliated with the country's state bank and national shipping lines as well as five executives from those firms. The sanctions freeze any assets they may have in U.S. jurisdictions and bar them from any dealings in the U.S. financial system.

The companies and individuals named are linked to the Islamic Republic of Iran Shipping Lines and Bank Mellat, both of which are already under U.S. sanctions for their alleged support of Iran's nuclear and ballistic missile programs.

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