Iran’s Latest Sanctions Target Key Industries

Tuesday, 08 Jan 2013 10:09 AM

By Sandy Fitzgerald

  Comment  |
   Contact  |
  Print  
|  A   A  
  Copy Shortlink
New sanctions on Iran are broadening to include entire industries, making it more difficult for the country to use front operations and helping the U.S. tighten the noose in fighting against the country’s nuclear expansion.

The new measures, signed by President Barack Obama last week, target shipping, ports, and even Iran’s government-controlled media, reports the Washington Post, and amount to a true trade embargo that could threaten the country’s economy.

The sanctions come at a time when Iran may be ready to resume negotiations with the United States and world powers about limiting its nuclear program. Saeed Jalili, president of Iran’s Supreme National Security Council, said the new talks will likely take place this month, and a spokesman for the European Union confirmed that new negotiations were expected soon.

Sanctions have already hit Iran hard, with the country’s currency value dropping by more than 40 percent since August and exports of petroleum falling by half. However, Iran hasn’t yet accepted serious cuts in its nuclear program, leading to the latest package of sanctions.

The new measures were approved by a bipartisan vote, even though some in the Obama administration at first said they could undermine international support for sanctions.

The new sanctions target international companies that conduct business with Iranian firms in several targeted industries, including blocking Iran from buying aluminum, steel, coal, and other materials used in construction and automaking.

Some argue, though, that the policy brings too much harm to Iranian civilians, while others advocate even tougher measures that could include military action.

But while the sanctions have slammed Iran’s economy, they have not created widespread poverty. Consumer spending is down, however. The price of essential medical treatments has more than doubled, and while food is available, it costs more.


© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Twitter to Track Which Apps Its Users Have

Wednesday, 26 Nov 2014 22:22 PM

If you use Twitter on your cellphone, the social media site will soon begin tracking which apps you use unless you activ . . .

Harry Reid: 'We Sure Do Like' Pope Francis

Wednesday, 26 Nov 2014 22:09 PM

Senate Majority Leader Harry Reid, a Mormon, says he's an unabashed fan of Roman Catholic Pope Francis. . . .

EU Presses Google for Global 'Right to Be Forgotten'

Wednesday, 26 Nov 2014 21:36 PM

The European Union is pressing tech giant Google to expand the right to be forgotten to all its search tools.
A r . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved