Six powers propose new sanctions and restrictions on Iran

By JERUSALEM POST STAFF
Six global powers proposed new sanctions against Iran including bans on travel and the sale of equipment that could be used in its nuclear industry, and urged stepped up monitoring of its financial institutions, according to elements for a new UN resolution obtained by The Associated Press. The six countries offered Iran a package of economic incentives and political rewards in June 2006 if it agreed to freeze uranium enrichment before talks on its nuclear program. But Iran has refused and defied two Security Council resolutions demanding suspension. The new proposal would freeze the assets of additional individuals and entities involved in Iran's nuclear activities. They were not identified in those parts seen by The AP. The proposal calls on all countries "to exercise vigilance" in entering into new financial commitments with Iran, including the granting of export credits, guarantees or insurance. It also calls for "vigilance" over financial dealings with Iranian-based banks, "in particular with Bank Melli and Bank Saderat, and their branches and subsidiaries abroad."