The United States announced additional sanctions on Iran Monday targeting its currency and automobile industry, stepping up pressure over Tehran’s nuclear program.
An executive order by President Barack Obama authorizes sanctions on foreign financial institutions that make transactions in the rial currency or keep accounts denominated in the rial outside the country.
The new rules also penalize the sale of goods and services to Iran’s auto industry.
“The steps taken today are part of President Obama’s commitment to prevent Iran from acquiring a nuclear weapon, by raising the cost of Iran’s defiance of the international community,” White House spokesman Jay Carney said.
New US sanctions target Iran's currency, auto industry
