WASHINGTON: The US yesterday ratcheted up efforts to isolate Iran, targeting it with currency and auto-sector sanctions.
President Barack Obama imposed sanctions on foreign financial institutions that conduct or facilitate significant transactions in the Iranian rial currency.
In an executive order, he also approved sanctions against people who do business with Iran’s automobile sector, which the White House said was a major source of revenue for Tehran.
The US and Western powers have imposed economic sanctions to pressure Iran into halting what they say is a drive to build a nuclear weapon. Tehran says its nuclear programme is for generating power and medical devices.
Reuters
