Iran Nuclear NewsUS watchdog moves to smother Iran trade

US watchdog moves to smother Iran trade

-

AFP: A top US financial watchdog outlined fresh measures to isolate Iran Tuesday, as Washington attempts to ramp up pressure on the Islamic Republic over its nuclear program.

WASHINGTON (AFP) — A top US financial watchdog outlined fresh measures to isolate Iran Tuesday, as Washington attempts to ramp up pressure on the Islamic Republic over its nuclear program.

Securities and Exchange Commission chairman Mary Schapiro told Congress she was working on measures that would make it easier for companies to abandon their stake in firms that trade with Iran.

The rules would “make it clear that an investment company cannot be sued for divesting itself from stocks of companies that deal with Iran,” said Schapiro.

It would also make it clearer when companies face sanctions for dealing with Iran.

“There are punitive sanctions that can be levied against companies that violate the Iran sanctions Act,” Schapiro told the congressional committee.

“That can create material contingent liabilities that need to be disclosed by public companies.”

Earlier this month President Barack Obama signed into law the toughest ever US sanctions on Iran, which he said would strike at Tehran’s capacity to finance its nuclear program and deepen its isolation.

The measures, on top of new UN Security Council and European sanctions, aim to choke off Iran’s access to imports of refined petroleum products like gasoline and jet fuel and curb its access to the international banking system.

The US and allies accuse Iran of building a nuclear weapon. Tehran denies the charges.

Latest news

What Is Happening in Iran?

Following the brutal killing of Masha Amini, the Iranian people have once again united to fight and defeat the...

Iran Regime’s Ministry of Culture’s Decision To Eliminate Children’s Intellectual Centers

With the so-called ‘Cultural Revolution’ which took place between 1980 and 1983, the Iranian regime tried to purge the...

Water Shortage Crisis and the Destruction of Iran’s Water Resources

Iran is currently suffering from a number of dangerous natural disasters. One of the most worrying is the drying...

Economic Freedom Under the Rule of the Mullahs in Iran

The Fraser institute published its annual report of the index of economic freedom on September 8, which measured the...

Iran’s Regime Continues Its Internet Restriction Project

This is part of the outlook of a document by the Iranian regime’s Supreme Council of Cyberspace, which has...

Iran’s Human Development Index Dropped Sharply

One of the most common questions asked in primary schools by teachers all over the world is, “wealth or...

Must read

Paper: Iran leader writes to Americans

AP: Iran's President Mahmoud Ahmadinejad has written a letter...

Rice discusses Tibet, Iran with Chinese FM

AFP: US Secretary of State Condoleezza Rice Wednesday called...

You might also likeRELATED
Recommended to you