The Bush administration is cracking down on Iran.
(AP Photo/Charles Dharapak)
Secretary of State Condoleezza Rice and Treasury Secretary Henry Paulson announced the harshest sanctions against Iran since the takeover of the U.S. embassy in 1979. The charge: Tehran is supporting terrorism in the Middle East, exports missiles and is engaging in a nuclear buildup.
Rice said the unilateral sanctions are not an indication that the United States is heading toward an armed conflict with Iran. AP Writer Matthew Lee reports administration officials hope the sanctions will pressure Iran into agreeing to a deal that would give it economic incentive to drop its nuclear program.
The sanctions:
- Will cut off more than 20 Iranian entities, including individuals and companies owned or controlled by the Revolutionary Guard, from the American financial system.
Iran's Iranian Revolutionary Guard Corps and its Ministry of Defense and Armed Forces Logistics were designated proliferators of weapons of mass destruction and ballistic missile technology. This means that any assets found in the United States belonging to the designated groups must be frozen. Americans are also forbidden from doing business with the designated organizations.
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Companies outside the United States are put on notice that doing business with the designated groups could put them at risk of U.S. financial penalty.
-- Howie Rumberg