31/Jul/2014 - Last News Update: 10:08

US senate approves bill to tighten Iran sanctions

Category: Business

Published: 22nd May 2012 03:17:11

The US Senate has approved a bill to tighten sanctions against Iran in a bid to force Tehran to abandon its nuclear programme.

The new sanctions will target Iran's Revolutionary Guard and investigate its role in the export of oil from the country.

It will also make it mandatory for US-listed firms to disclose any Iran-related business to the authorities.

The move comes ahead of crucial talks on Iran's nuclear programme.

"Today the US Senate put Iranian leaders on notice that they must halt all uranium enrichment activities or face another round of economic sanctions," Republican senator Mark Kirk, a co-author of the bill, said in a statement.

The US and its allies have been trying to force Tehran to abandon its nuclear programme, which they suspect Tehran is using to develop a nuclear weapon.

This bill is another tool that will demonstrate to Iran that the United States is not backing down”

Last year, US President, Barack Obama, approved measures allowing the US to act against companies and foreign institutions that dealt with Iran's central bank.

The move was aimed at cutting Iran's oil revenues as its central bank is the principal clearing facility for payment for Iran's oil exports.

Earlier this year, the European Union announced an oil embargo against Iran.

The US has also been putting pressure on countries in Asia such as China, Japan, India and South Korea, which are among the biggest importers of Iranian oil to reduce their intake from Tehran.

Shortly after the bill was passed, one US lawmaker said that the move indicated US willingness to keep the pressure on Tehran.

"This bill is another tool that will demonstrate to Iran that the United States is not backing down," said Democratic senator Robert Menendez.

Source:
BBC News External Link Show Citation

Latest News

Harvard Citation

BBC News, 2012. US senate approves bill to tighten Iran sanctions [Online] (Updated 22nd May 2012)
Available at: http://www.ukwirednews.com/news/1430019/US-senate-approves-bill-to-tighten-Iran-sanctions [Accessed 31st Jul 2014]

News In Other Categories

  • County Meath body: Dead man 'linked to RIRA murder'

    A man who was found dead in County Meath is reported to have been linked to the murder of a Real IRA leader in Dublin two years ago.
  • US TV producer Halmi dies aged 90

    Prolific US television producer Robert Halmi Sr, whose work won dozens of Emmy Awards, has died at his New York home aged 90.
  • Bristol Academy extends reach overseas with first foreign students

    With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com
  • 11% of children aged four are obese, says Wales' health experts

    High numbers of overweight and obese children as young as four are revealed in latest figures from public health officials in Wales.
  • Mining market impacts on Weir profits

    Engineering firm Weir Group has said challenging conditions in its mining market has impacted on half year results.
  • Celtic Array Rhiannon wind farm off Anglesey scrapped

    A massive wind farm planned for the Irish Sea has been scrapped.