US imposes new sanctions on Iranian oil industry
The United States tightened sanctions on Iran's oil industry Tuesday with new measures that make it more difficult for other countries to purchase Iranian oil, dpa reported.
President Barack Obama signed an executive order aimed at preventing Iran from establishing payment methods that circumvent existing sanctions while slapping new sanctions on purchasing petrochemicals.
Sanctions were also put in place against individuals and companies that support or do business with the National Iranian Oil Company, Naftiran Intertrade Company, or the Central Bank of Iran, and to prevent the sale of US currency or precious metals to Iran.
Other sanctions were announced against a Chinese bank and an Iraqi bank for knowingly conducting business with Iranian banks.