West Tightens Sanctions in Iran

    TEHRAN, IRAN - NOVEMBER 29:  Protesters storm a security gate as they break in to the British Embassy during an anti-British demonstration in the Iranian capital on November 29, 2011 in Tehran, Iran. Relations between the two countries have soured further over recent weeks, with the UK Treasury imposing sanctions on Iranian banks, accusing them of supporting the country's nuclear programme. The Iranian authorities insist that its nuclear plans are for peaceful purposes only and parliament has voted to downgrade diplomatic relations with the UK.  (Photo by FarsNews/Getty Images)

    FarsNews / Getty Images

    In defiance of the Obama administration, the Senate unanimously passed economic sanctions against Iran on Thursday night—while several other Western nations followed suit. Treasury Secretary Timothy Geithner and other officials had warned that sanctions could raise oil prices without discouraging Iran's nuclear program. The amendment, which still needs House approval, would prevent organizations that do business with Iran's central bank from holding accounts in the U.S. The European Union, meanwhile, banned an additional 180 individuals and companies from travel to member states. Britain and France called for an embargo on Iranian purchases. The sanctions are in response to the ransacking of the British Embassy by an Iranian mob, apparently aligned with a government-controlled militia.

    Read it at The New York Times