U.S. President Barack Obama has signed an executive order that carries out new sanctions against Iran that Congress approved and that he signed this summer.
The sanctions seek to deter Iran from pursuing a nuclear weapons program. Iran insists its nuclear development is for peaceful purposes.
White House National Security Council spokesman Tommy Vietor says stepped up sanction aimed at Iran have – in his words – “produced profound and demonstrable results.”
Congress in August passed legislation that would expand sanctions to target individuals or companies who issue or purchase Iranian debt or who assist the Iranian government in the development or transportation of Iranian oil or its petrochemicals. The order Mr. Obama signed Tuesday sets up a framework for implementing the new sanctions.
Source: Globe and Mail