Obama tightens sanctions against banks handling Iran oil transactionsAugust 1, 2012 - 10:50 AMT PanARMENIAN.Net - President Barack Obama announced new U.S. sanctions on Tuesday, July 31 against foreign banks that help Iran sell its oil and said the measure would increase pressure on Tehran for failing to meet its international nuclear obligations, Reuters said. Obama's decision, in an executive order, came ahead of congressional votes on new sanctions intended to further strip Iran of its oil-related revenues. It also followed criticism from Republican presidential challenger Mitt Romney that the White House is failing to act strongly enough to stop Iran's suspected pursuit of a nuclear weapon. Iran says its nuclear program is for peaceful purposes. The United States remains committed to finding a diplomatic resolution to the standoff with Tehran, but is also determined to step up the pressure, Obama said in a statement. "If the Iranian government continues its defiance, there should be no doubt that the United States and our partners will continue to impose increasing consequences," he said. Obama's new sanctions target foreign banks that handle transactions for Iranian oil or handle large transactions from the National Iranian Oil Company (NIOC) or Naftiran Intertrade Company (NICO), two key players in Iran's oil trade. That builds on oil trade sanctions signed into law in December that have prompted buyers in Japan, South Korea, India and China to significantly cut their purchases to avoid penalties. The new executive order has the same rules, providing "exceptions" to countries that have demonstrated significant cuts. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. |