US Senate group pushes new round of Iran sanctions
Legislators aim to block Tehran’s access to foreign currency
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Demonstrators protest against Iranian Foreign Minister, Ali Akbar Salehi prior to his speech at the German Council Of Foreign Relations, a think tank for foreign policy, in Berlin, Germany, Monday, Feb. 4, 2013. The German phrase on the poster reads: 'Comprehensive and immediate UN-Sanctions against the Mullahs in iran.' (photo credit: AP/Markus Schreiber)
WASHINGTON (AP) — A bipartisan group of US senators is pushing for a new round of sanctions on Iran, determined to cripple the regime’s economy and thwart any nuclear ambitions.
The legislation unveiled Wednesday would essentially penalize any financial institution around the world that helps Iran in a non-local currency. It would block Tehran’s access to foreign exchange reserves and limit its ability to deal in foreign currencies, including euros.
The group says the Iranian government, including the Central Bank of Iran, has accounts worldwide with foreign exchange reserves. Iran often converts them into local currencies for imports and other financial dealings.
Copyright 2013 The Associated Press.
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