US Senate okays Iran energy, shipping sanctions
Senate c'tee chair: Obama concerned sanctions don't provide enough "waiver flexibility" for countries trading with Iranian entities.
US Congress Photo: REUTERS
WASHINGTON - The US Senate on Friday resoundingly approved new sanctions on trade with Iran's energy, port, shipping and ship-building sectors, its latest effort to ratchet up economic pressure on Tehran over its nuclear program. The new package builds on existing US sanctions but maintains exemptions for countries that have made significant cuts to their purchases of Iranian crude oil.
Iran's currency has plunged this year as its oil exports were slashed by US and European sanctions aimed at pressuring the country's leadership to stop pursuing nuclear weapons. Iran says its nuclear program is for peaceful purposes. The United Nations' nuclear chief said on Thursday his agency has made no progress in its year-long push to investigate whether Iran has worked on developing an atomic bomb.
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