US Treasury Undersecretary Stuart Levey |
The US Treasury Department has introduced a new set of rules aimed at punishing foreign banks and companies defying new sanctions imposed against Iran.
The regulations could bar foreign banks or companies from accessing the US financial system if they continue trade with Iranian industries targeted by the latest round of United Nations and United States sanctions, The New York Times reported on Saturday.
The new rule bars companies from transaction in dollars and prohibits or extremely limits the use of US bank accounts in transactions with Iran.
Soon after the UN Security Council imposed a Washington-drafted sanctions resolution against Iran, the US Congress passed a legislation paving the way for new restrictions.
“It would not be in our interest to act without warning. We're more interested in changing behavior than in 'getting' somebody,” the newspaper quoted US Treasury Undersecretary Stuart Levey as saying on Saturday.
The UNSC sanctions and unilateral measures imposed against Iran by the United States and the European Union revolve around Western allegations that Tehran is pursuing a military nuclear program.
Iranian officials say the country is after the peaceful applications of nuclear technology, arguing that Tehran has a right to a civilian nuclear program as a signatory to the Nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency.
The regulations could bar foreign banks or companies from accessing the US financial system if they continue trade with Iranian industries targeted by the latest round of United Nations and United States sanctions, The New York Times reported on Saturday.
The new rule bars companies from transaction in dollars and prohibits or extremely limits the use of US bank accounts in transactions with Iran.
Soon after the UN Security Council imposed a Washington-drafted sanctions resolution against Iran, the US Congress passed a legislation paving the way for new restrictions.
“It would not be in our interest to act without warning. We're more interested in changing behavior than in 'getting' somebody,” the newspaper quoted US Treasury Undersecretary Stuart Levey as saying on Saturday.
The UNSC sanctions and unilateral measures imposed against Iran by the United States and the European Union revolve around Western allegations that Tehran is pursuing a military nuclear program.
Iranian officials say the country is after the peaceful applications of nuclear technology, arguing that Tehran has a right to a civilian nuclear program as a signatory to the Nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency.
Presstv.com
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