Obama slams toughest sanctions on Iran

Written by Muhammad Aslam al Hindi

Stressing that Iran’s Nuclear Weapons programmes are a major threat to world peace, the US president has signed a bill that if approved will impose some of the toughest sanction on Iran. Till date the UN has been lenient, but now the US president is all set to target the Islamic republic in Iran.

The financial and scientific establishments are going to be the most affected by the UN sanctions. The bill was signed on Thursday and it will be instrumental in cutting off refined petroleum imports including gasoline and jet fuels and bans the United States banks to do business with foreign banks that are involved in transactions with the elite revolutionary Guards from Iran.

According to Obama, the new sanctions are designed in order to put a halt to the inflow of funds in Iran that are used by Iran in its nuclear programmes. Obama made the statement at the White House Summary.

The new sanctions have serious implications on banks doing business with Irtna as well as the United States of America. The Unilateral US sanctions are in lieu of the new United Nations Security Council Sanctions on Iran that were passed in the last month to no effect.

But according to critics, since Iran is quoting investment from emerging markets, it is difficult to ascertain if the new sanctions would be instrumental in putting a stop to nuclear programmes in Iran.

[Source: AP]