US imposes tough new sanctions against Iran

Posted By: Samyuktha
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Washington, Jul 2: US President Barack Obama on Thursday, Jul 1 evening signed a Bill imposing new and tough sanctions against Iran over its alleged nuclear weapons programme.

The Bill targets exports of gasoline and other refined petroleum products to Iran, besides banning US banks from doing business with foreign banks providing services to Iran"s Revolutionary Guard.

The Bill signed in an East Room ceremony along with sanctions approved recently in the UN Security Council will prove frutiful, the administration hoped, even though previous regimens failed to halt Iran"s activities towards development of nuclear weapons.

Even though the bill was dubbed as “toughest sanctions against Iran ever passed by the United States Congress", Obama said he did not seek the outcome arguing that it was chosen by an Iranian government which for years has defied UN resolutions.

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