US targets Iran with currency, auto-sector sanctions

June 3, 2013 23:00

WASHINGTON - The United States on Monday ratcheted up its efforts to isolate Iran, targeting Tehran with currency and auto-sector sanctions.

US President Barack Obama in an executive order imposed sanctions on foreign financial institutions that conduct or facilitate significant transactions in the Iranian rial currency.The president also approved sanctions against people who do business with Iran's auto sector, which he said was a major source of revenue for Tehran.

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