currency exchange dealer, Iran_311.
(photo credit: Reuters)
The United States, Britain and Canada were set to announce a set of sanctions on Iran on Monday, according to ABC News.
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officials told ABC that the State Department will impose sanctions in
areas which Iran currently uses "to work around existing sanctions on
its energy and financial sectors."
familiar with the matter said Friday that the US plans to sanction
Iran's petrochemical industry, seeking to raise pressure on Tehran after
it may be pursuing nuclear weapons.
sources said Washington wanted to send a strong signal after the UN
nuclear watchdog issued a November 8 report saying Iran appeared to have
worked on designing an atomic bomb and may still be secretly carrying
out related research.
US Secretary of Defense Leon Panetta,
speaking to reporters traveling with him to Canada last week, said the
United States believed the most effective way to confront Iran still was
to use diplomatic pressure and sanctions to try to curb the Islamic
state's nuclear program.
"Obviously to go beyond that raises our concerns about the unintended consequences that could result," Panetta said.
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pointed to a US analysis that a strike on Iran would set back its
nuclear program, which Iran says is only for peaceful purposes, by one
or two years at most. It would also have implications for US forces in
"And I have to tell you, thirdly, there are going to be economic
consequences to that, that could impact not just on our economy but the
world economy," Panetta said. "So those things all need to be considered."
The six powers involved in diplomacy on Iran - the United States,
Russia, China, France, Britain and Germany - hammered out a joint
resolution in intense negotiations and submitted it to the 35-nation
board of the International Atomic Energy Agency (IAEA), a Vienna-based
UN body, which is expected to debate and vote on it on Friday.
It aims to increase pressure on Iran to address fears about its atomic
ambitions. But it is not expected to satisfy those in the West and in
Israel, who had hoped IAEA document would trigger concrete international
action, such as an IAEA referral of its case to the UN Security
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