US expands sanctions to lock up Iran oil revenue

US expands sanctions to lock up Iran oil revenue
Thu Feb 7, 2013 19:13:33

The United States has imposed new sanctions on Iran’s energy sector in a new attempt to force the Islamic Republic to halt its nuclear energy program.

The sanctions, which took effect on Wednesday, prevent Iran from gaining access to earnings garnered from its crude exports.
 
The sanctions require the importing countries to keep their payments at home and only release them in return for purchases of goods from them by Iran, to effectively lock up Iranian oil revenue overseas.
 
Washington has also imposed sanctions against Iranian media organizations and the Iranian Cyber Police, AFP reported.
 
Iran responded by condemning the measures as yet another act of hostility from the US government.
 
The latest anti-Iran measures come at a time when Washington has expressed willingness to hold talks with Tehran.
 

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