November 21, 2011
U.S. plans to slap new sanctions on Iran
The United States is planning to slap tougher new sanctions against Iran’s oil industry, according to reports.
Sanctions that affect investment in Iran’s oil industry are expected to be announced Monday, The New York Times reported, less than two weeks after the United Nations’ nuclear watchdog issued a report saying that there was “credible” evidence that Iran was working on a nuclear weapon.
The new sanctions would not cut off oil sales, an unnamed Western official told the newspaper. The official also said that European nations are expected to follow the American’s lead later in the week.
The United States currently has some sanctions against Iran’s petrochemical industry.
On Nov. 18, the 35-nation board of governors of the International Atomic Energy Agency approved a resolution that harshly criticizes Iran but refrains from calling for new sanctions.
Meanwhile, the speaker of Iran’s parliament reportedly said that the Islamic Republic would review its continuing relationship with the IAEA in light of the nuclear watchdog’s report. Speaker Ali Larijani said Sunday that Iranian lawmakers will consider offering less cooperation to the IAEA.