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November 19, 2011 7:15 pm

US Considers New Iran Sanctions

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President Barack Obama. Photo: Marc Nozell.

YNet – Washington is planning to impose fresh sanctions against Iran’s petrochemical industry, in wake of the recent IAEA report on Tehran’s atom endeavors and its adamant refusal to suspend its nuclear efforts, CNN reported Saturday.

Current US sanctions prohibit American companies from doing business with Iran and according to the news network’s sources, the new measures aim to bar foreign companies from doing business with the Islamic Republic’s petrochemical industry “by threatening them with being banned from US markets.”

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