The new UN Security Council resolution moderately expanded sanctions previously imposed on Iran. The highlights:
· Bans all trade and supply of so-called dual-use items, materials and technologies that can be adapted for military as well as civilian use.
· Authorize inspections of cargo to and from Iran that is suspected of carrying prohibited equipment.
· Authorize monitoring of two major Iranian banks, Bank Melli and Bank Saderat.
· Extends travel bans and asset freezes against persons and companies involved in the nuclear program. It adds 13 names to the existing list of five individuals and 12 companies subject to travel and asset restrictions.
The resolution adopted by the council invoked Article 41 of Chapter 7 of the UN Charter, which allows the UN council to seek economic sanctions without relying on the use of force to implement a resolution.