President Barak Obama today signed into law new US sanctions on Iran. At the signing ceremony in the East Room at the White House, the president said the sanctions would strike at the heart of Iran’s ability to develop its nuclear program.
"Consistent with the Security Council mandate, this legislation strengthens existing sanctions, authorizes new ones and supports our multilateral diplomatic strategy to address Iran’s nuclear programs," Obama said. "It makes it harder for the Iranian government to purchase refined petroleum and the goods, services and materials to modernize Iran’s oil and natural gas sector. It makes it harder for the Revolutionary Guards and banks that support Iran’s nuclear programs and terrorism to engage in international finance. It says to companies seeking procurement contracts with the United States government -- if you want to do business with us, you first have to certify that you’re not doing prohibited business with Iran.” [Reuters, 1 July]