Secys Clinton, Geithner applaud new EU, Canada sanctions on Iran

Dow Jones: Treasury Secretary Timothy Geithner and Secretary of State Hillary Clinton praised the European Union and Canada on Monday for adopting new sanctions against Iran.

By Sarah N. Lynch

Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)–Treasury Secretary Timothy Geithner and Secretary of State Hillary Clinton praised the European Union and Canada on Monday for adopting new sanctions against Iran.

In a joint statement, the two said they welcome the “strong steps taken by our European and Canadian partners” to implement the latest U.N. Security Council resolution.

“The new measures contain important restrictions on Iran’s ability to use its transportation infrastructure and energy proceeds to support its nuclear and missile programs,” they said.

The sanctions will also help protect the international financial system by restricting Iran’s ability to access the Canadian and European banking systems, they added.

Clinton and Geithner also pledged to continue putting the pressure on Iran.

“The message to Iran’s leaders is clear: Meet your responsibilities or face increasing isolation and consequences,” they said.

Clinton and Geithner added that while they applaud the new sanctions, they still remain committed to a “diplomatic solution” to help resolve concerns about Iran’s nuclear program.