The United States on Monday ratcheted up its efforts to isolate Iran, targeting Tehran with currency and auto-sector sanctions.
Sens. John Cornyn (R., Texas) and Mark Kirk (R., Ill.) introduced legislation Wednesday that would impose sanctions upon the government of Iran, according to a press release.
The Treasury Department is targeting a shipping company for its alleged connection to a network of front companies that were used to evade Iranian oil sanctions.
A bipartisan group of senators introduced Wednesday legislation that would block Iran’s access to the country’s foreign exchange reserves held in foreign banks, potentially worth up to $100 billion.
The United States Treasury Department sanctioned a prominent Greek businessman Thursday for his efforts to help Iran evade Western economic sanctions.
A top U.S. Treasury Department official promised Congress his department would pressure the European Union to designate Hezbollah as a terrorist organization and to force European banks to stop ongoing transactions with Iran.
Iran claims to have exported $7 billion in gas products over the past year to several European nations despite an international regime of economic sanctions aimed at crippling Iran’s lucrative energy sector. The exports come as Europe and the United States have pushed to choke off Tehran’s market access. The ongoing exports, however, indicate that many loopholes continue to exist in the current laws.
Sen. Robert Menendez (D., N.J.), coauthor of the strongest Iran sanctions legislation in history, called for increasing sanctions pressure as Iran continues to work toward nuclear capability.
Secretary of State John Kerry’s first overseas trip will bring him to Turkey on Friday, a once-close Western ally that has pivoted from America and Israel toward Iran.
A senior Turkish diplomat is facing criticism after publicly declaring that “Al-Qaeda is very different from terror” and for accusing the French of intentionally exaggerating the terrorist threat in Mali.