Iran Nuclear NewsU.S. Treasury warns Iran may face sanctions

U.S. Treasury warns Iran may face sanctions

-

ImageReuters: A senior U.S. Treasury Department official said on Tuesday that if Iran fails to demonstrate that it is not seeking nuclear weapons it may face sweeping sanctions from the rest of the world. ImageWASHINGTON (Reuters) – A senior U.S. Treasury Department official said on Tuesday that if Iran fails to demonstrate that it is not seeking nuclear weapons it may face sweeping sanctions from the rest of the world.

"The plan we are developing is comprehensive," Treasury's under secretary for terrorism and financial intelligence, Stuart Levey, said in prepared testimony for delivery to the Senate banking Committee.

"It takes into account that no single sanction is a 'silver bullet' — we will need to impose measures simultaneously in many different forms in order to be effective."

Levey was not specific and said he could not describe everything that was being planned at a public hearing but said any measures would be taken with international cooperation.

"Because financial measures are most effective when imposed as part of a broad-based effort with support of the largest possible international coalition, we are working closely with our allies as we put together this strategy," he said.

Levey said that by targeting "key vulnerabilities and fissures in Iran," allies could if necessary show the Iranian government that it would face "serious costs" for failing to cooperate with the international community.

At talks in Geneva last week between Iran and six major powers including the United States over Tehran's nuclear program, Iran said it would let U.N. inspectors into a newly disclosed uranium enrichment plant.

Levey noted that President Barack Obama had stated that while the Geneva talks were helpful, the United States was not prepared to negotiate indefinitely and was prepared to move toward increased pressure if Iran does not cooperate.

(Reporting by Glenn Somerville; Editing by James Dalgleish)

Latest news

The World Must Acknowledge the Iranian People’s Right to Self-defense

Victor Hugo once said: “When dictatorship is a fact, revolution becomes a right.” Throughout history, this has been the...

Iran: 60% Of Population Is Poor

The livelihood baskets of the Iranian people are shrinking dramatically. This, in turn, has introduced new concerns to protect...

The implications of EU’s terrorist designation of the Revolutionary Guards (IRGC)

The European Parliament called on January 18 for the European Union to list Iran's Revolutionary Guards (IRGC) as a...

Iran’s Regime Is Hiding Human Rights Violations In Its Prisons

With more than four months into Iran’s latest round of nationwide uprisings, the brutality of the Iranian regime’s security...

How Internet Censorship Is Damaging Iran’s Economy

While in the last four months, internet access in Iran has been cut off or severely limited, the regime’s...

Iran Regime’s Upcoming Budget Bill Will Lead To More Protests

On January 12, the Iranian regime’s president Ebrahim Raisi handed over the country’s budget bill to the parliament.  According...

Must read

Iran’s parliament confirms key hard-line ministers

Iran Focus: Tehran, Aug. 24 – Iran’s hard-line-dominated parliament...

EU, Iran envoys discuss nuclear talks date, possibly in January

Reuters: A new round of nuclear talks between Iran...

You might also likeRELATED
Recommended to you