Obama to sign new Iran sanctions law on Jul 1

Posted By: Devaki
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Washington, Jul 1: White House officials informed that US President Barack Obama will sign new sanctions on Irans's energy and banking sectors on Thursday, Jul 1.

A new sanctions bill was approved by the House of Representatives and the Senate last week, which penalizes companies supplying Iran with gasoline as well as international banks involved with Iran's Islamic Revolutionary Guard Corps.

The new sanctions bill came after the United Nations Security Council passed the new resolution, enabling tough sanctions on Iran over is refusal to stop the nuclear program.

Iran insistas that its project enriching uranium is for the peaceful generation of electricity but the United States and other powers allege that it is a cover to build destructive nuclear weapons.

Top officials in US have been compelling Obama administration to impose unilateral sanctions on Iran to pressure it into withhold the nuclear program.

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