U.S., Britain: New Sanctions on Iran

    A worker rides a bike in front of the reactor building of the Bushehr nuclear power plant, just outside the southern city of Bushehr, Iran, Tuesday, Oct. 26, 2010. Iran began loading fuel into the core of its first atomic power plant on Tuesday, moving closer to the start up of a facility that leaders have touted as defying of international efforts to curtail the country's nuclear ambitions.  (AP Photo/Mehr News Agency, Majid Asgaripour)

    Majid Asgaripour, Mehr News Agency / AP Photo

    The U.S. announced Monday that it was implementing tougher sanctions on Iran, a day after a U.N. International Atomic Energy Agency report expressed renewed concerns over “the possible military dimensions of Iran’s nuclear program.” Secretary of State Hillary Clinton said the new sanctions also target Iran’s oil and gas business, which has caused the U.S. to name Iran a “primary money-laundering concern.” Clinton said the sanctions will be carried out in tandem with Britain and Canada in an effort to keep a closer watch on Iran’s “sources of income and its illegal activities.” After the U.N. report was released, Britain cut all financial ties with Iran; Canada’s sanctions will also prohibit nearly all financial transactions with Iran’s government. The European Union already has specific sanctions in place, but European diplomats said they will likely follow the U.S. in imposing even tougher sanctions. In response to the new sanctions, Iran says that its nuclear program is peaceful and that the U.N.’s report is “politically motivated.”

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