Obama clears tougher oil sanctions against Iran


U.S. President Barack Obama is expected to push through tougher sanctions against Iran in an effort to further isolate the Islamic Republic from the global economy by squeezing its ability to sell crude oil. The new sanctions will penalize banks that continue to buy oil from Iran, the Associated Press is reporting.

As stipulated in a sweeping defence bill he signed in December, Obama had until Friday to determine whether further restrictions on Iran’s ability to sell oil would harm international markets. Evidently, he determined they wouldn’t.

The hope is that tougher sanctions will convince Iran to abandon its controversial nuclear program, and that they will deter Israel from unilaterally and preemptively attacking Iranian nuclear sites.

The new penalties will take effect in June, a month before the European Union’s oil embargo against Iranian kicks in.

The U.S., Israeli and Canadian government’s believe Iran’s nuclear program is designed to give that country the capability to build atomic bombs. But Iran insists its program is peaceful.

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Obama clears tougher oil sanctions against Iran

  1. Because sanctioning the Chinese banks that are buying your debt is such a grand plan.

  2. This has little to do with nuclear programs but more to do with Iran now willing to sell oil in currencies other that the US dollar, which will usurp the power of the US in interantional trade. Look at the timeline at http://en.wikipedia.org/wiki/Iranian_oil_bourse

  3. Should Iran be found to not be building or developing Nuclear Bombs, Nato must apoligize to Iran and Pay compensation for the damage done to Iran. 

    Nato is the aggresor and must be censored by the United Nations.

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