US extends sanctions against Iran

The United States has extended sanctions on Iran, targeting the petrochemical sector and Iranian banks in response to a report by the UN's nuclear regulatory agency presenting strong evidence that Iran is working on a nuclear weapon. Amid growing international concern about the Iranian government’s nuclear ambitions, Canada had already tightened sanctions, the UK severed all financial ties with Iranian banks, and France called for EU sanctions on an ‘unprecedented scale.’ The Obama administration also declared Iran's banking system a centre for money laundering. On Tuesday morning, however, Russia's Foreign Ministry criticised the new U.S. sanctions against Iran as “unacceptable and contradictory to international law.” Russia, which has had significant commercial ties to Iran’s nuclear programme, including deals to provide fuel to the Iranians’ Bushehr nuclear facility, has advocated restarting international talks that would allow the Islamic Republic to answer IAEA questions in return for lifting some sanctions. Listen