U.S. agrees to sanctions Iran’s Central BankDecember 16, 2011 - 09:19 AMT PanARMENIAN.Net - The Obama administration has given in to legislation that would apply sanctions on Iran’s Central Bank, despite weeks of opposition over concerns the measures may drive up oil prices or inflict severe economic hardship on American partners overseas. State Department spokeswoman Victoria Nuland said Thursday, December 15, that U.S. officials were looking at how to implement the sanctions in way that “maximizes the pressure on Iran while causing minimum disruption for friends and allies of the U.S.” The administration had opposed the defense bill amendment, despite its unanimous Senate support. It also passed the House on Wednesday. Several U.S. allies in Europe and Asia import petroleum from Iran, and to do so their banks and companies must conduct transactions through the Iranian Central Bank. The new bill could compel U.S. punishment of foreign financial institutions that maintain such business. The administration had also expressed concern the sanctions could lead to a spike in global oil prices, hampering the American economic recovery and perhaps perversely enabling Iran to reap even greater revenues from its oil exports. That would then defeat the purpose of the bill, which is to hamper Tehran’s alleged support for international terrorism and ability to fund its nuclear enrichment program. Several changes were added to the bill to give the administration greater flexibility, and Nuland declined to repeat any of the administration’s previous objections on Thursday. The sanctions wouldn’t come into effect until six months after the bill is signed, and would allow the president to waive the penalties for national security reasons. 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 | OSCE vows support for Armenia “in all three directions of security” Achieving stable peace between Armenia and Azerbaijan remains a priority of the OSCE, said Ian Borg. 151 detained as civil disobedience campaigns continue in Yerevan Citizens have been blocking streets in the Armenian capital, demanding Nikol Pashinyan’s resignation. IDBank issues 2nd tranche of dollar bonds of 2024 On May 13, 2024, IDBank placed registered coupon bonds under the abbreviation AMANLBB2PER9. Russia provides info about arrested Armenian ex-MP Russian law enforcement agencies have provided information about the arrest of Tigran Urikhanyan. |