US Preparing New Sanctions on Iran

They would be the first financial sanctions on Iran since Tehran agreed to a landmark nuclear agreement in July and present a serious challenge to the accord’s implementation.

“We’ve been looking for some time‎ at options for additional actions related to Iran’s ballistic missile program based on our continued concerns about its activities,” an Obama administration official was quoted as saying.

The official further said: “We are considering various aspects related to additional designations, as well as evolving diplomatic work that is consistent with our national security interests.”

The Journal said the planned Treasury Department sanctions concerned two Iran-linked networks involved in developing the country’s missile program and include many of the people involved.

US officials claimed that the new sanctions are in line with the Joint Comprehensive Plan of Action [JCPOA], the nuclear agreement, and the Treasury Department can impose new sanctions on Iran over its missile development.

Iran has also defended its right to carry out missile tests for defensive purposes, saying none of his country’s missiles are capable of carrying nuclear warheads.

“It’s our legitimate defense. These are not missiles that are designed to be capable of carrying nuclear warheads and, therefore, it is within our right to self-defense,” said Foreign Minister Mohammad Javad Zarif in an interview published by The New Yorker earlier this month.

According to the Journal, the sanctions would prohibit US or foreign nationals from conducting business with targeted companies. US banks would also be required to freeze any assets the companies or individuals hold inside the American financial system.

Tehran is already disappointed by Obama’s signing of a Congress bill this month aimed at limiting travels to Iran and trade with the country.

The Obama administration has urged the tribunal not to overturn the decisions of US circuit and appeals courts to use the funds.

Source: Al-Ahed news