U.S., Britain and Canada raised sanctions over Iran’s financial and energy sectors

U.S., Britain and Canada raised sanctions over Iran’s financial and energy sectors

Western states including United States, Britain and Canada have raised sanctions over Iran’s financial and energy sectors.

The purpose of the sanctions is to raised political pressure on Tehran and put a definite end to its nuclear energy program.

However the plans were announced, it seemingly had a little effect to halt Iran’s determination for continuing nuclear program.

U.S. has claims that Iran is the most preferable country to launder black money. The claim is made to put restrictions to its banking system that helps to power its economy.

In the plan 11 different entities and individuals were named that are suspected to power nuclear power programs in Iran.

The sanctions are also applicable on the companies that provide funds for the development of its oil and petrochemical industries.

The U.S. did not put any sanction on the central bank of Iran. It could have cut the country from global banking system. This could have hiked the oil prices all over the world and especially affecting U.S. and European economies.

Britain has restricted any kind of bank dealing with banks in Iran. It also includes Iran’s central bank.

France has called to put measures on the undefined scale of Iran’s nuclear program.

Canada has revealed that it will virtually stop all kind of transactions with Iran, including the halt of all goods that used by Iranian oil, gas and petrochemical industries. Only Iranian-Canadians will be allowed to send money home.

The sanctions were planned after the International Atomic Energy Agency meeting held earlier this month. A report was presented by the intelligence that Iran plans to develop an atomic bomb in disguise of it energy program.

Following the IAEA meeting, Iran replied that its nuclear program is completely peaceful and on means to provide energy solutions to its increasing energy demands.

However it is expected that the sanctions would do less to stop Iran’s nuclear program.

Short URL: https://www.newspakistan.pk/?p=4372

Posted by Samer Ahmed on Nov 22 2011. Filed under World. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry