Published: February 06, 2012

AJC Praises New U.S. Sanctions on Iran Central Bank

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NEW YORK, Feb. 6, 2012 /PRNewswire-USNewswire/ -- AJC praised President Obama for imposing intensified sanctions on Iran's Central Bank. The president's action further tightens the rules barring transactions with the bank that were put in place in legislation enacted in December.

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"Iran's defiance invites the strongest possible sanctions from an international community determined to prevent that country from obtaining nuclear-weapons capacity," said AJC Executive Director David Harris. "U.S. leadership in ratcheting up sanctions targeting the banking and energy sectors, which are Iran's Achilles heel, is essential."

In an executive order, President Obama said that "additional sanctions are warranted, particularly in light of the deceptive practices of the Central Bank of Iran and other Iranian banks to conceal transactions of sanctioned parties."

The new U.S. sanctions come in the wake of an IAEA mission to Iran, which was prohibited from gaining access to key nuclear sites and scientists.

"Closing all loopholes in Iran's financial activities will be a strong message to the regime that the time for game-playing is over, and it must fulfill its Nonproliferation Treaty obligations now," said Harris.

SOURCE American Jewish Committee