🚀 ProPicks AI Hits +34.9% Return!Read Now

US issues fresh sanctions against Iran over nuclear escalations

Published 06/27/2024, 02:47 PM
Updated 06/27/2024, 02:55 PM
© Reuters. FILE PHOTO: Iran's and U.S.' flags are seen printed on paper in this illustration taken January 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

By Daphne Psaledakis

WASHINGTON (Reuters) -The United States on Thursday issued fresh sanctions targeting Iran in response to "continued nuclear escalations," U.S. Secretary of State Antony Blinken said in a statement.

"Over the past month, Iran has announced steps to further expand its nuclear program in ways that have no credible peaceful purpose," Blinken said.

"We remain committed to never letting Iran obtain a nuclear weapon, and we are prepared to use all elements of national power to ensure that outcome."

Iran's mission to the United Nations in New York did not immediately respond to a request for comment.

Thursday's action imposes sanctions on three companies based in the United Arab Emirates the U.S. accused of being involved in the transport of Iranian petroleum or petrochemical products, as well as 11 associated vessels.

Earlier this month, the Group of Seven rich nations warned Iran against advancing its nuclear enrichment program and said they would be ready to enforce new measures if Tehran were to transfer ballistic missiles to Russia.

Iran rebuked the statement, calling on the G7 to distance itself from "destructive policies of the past", said Iranian Foreign Ministry spokesperson Nasser Kanaani.

Earlier in June, the U.N. nuclear watchdog's 35-nation Board of Governors passed a resolution calling on Iran to step up cooperation with the watchdog and reverse its recent barring of inspectors.

© Reuters. FILE PHOTO: Iran's and U.S.' flags are seen printed on paper in this illustration taken January 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Iran is enriching uranium to up to 60% purity, close to the 90% of weapons grade, and has enough material enriched to that level, if enriched further, for three nuclear weapons, according to an IAEA yardstick.

Western powers say there is no credible civilian reason for that. Iran says its aims are entirely peaceful but officials have recently said it could change its "nuclear doctrine" if it is attacked or its existence was threatened by arch-foe Israel. That has prompted alarm at the IAEA and in Western capitals.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.