NOVDECJAN
02
201020112014
38 captures
02 Dec 2011 - 11 Nov 2020
About this capture
BBC

Accessibility links
Skip to content
Skip to local navigation
Skip to bbc.co.uk navigation
Skip to bbc.co.uk search
Help
Accessibility Help
US & CANADA
Home
US & Canada
Latin America
UK
Africa
Asia
Europe
Mid-East
Business
Health
Sci/Environment
Tech
Entertainment
Video
1 December 2011 Last updated at 22:53 ET
Share this page
Delicious
Digg
Facebook
reddit
StumbleUpon
Twitter
Email
Print
US Senate passes sanctions on Iran central bank
Iran insists its nuclear programme is for peaceful purposes only
Continue reading the main story
Iran nuclear crisis
Q&A: Iran sanctions
Case against Iran strengthened
White House not on war path
Fuelling Bushehr
The US Senate has unanimously approved economic sanctions on Iran targeting the country's oil industry, despite warnings the move could backfire.
The measures, passed by 100 votes to nil, would ban foreign firms from doing business with the Iranian central bank.
Before it can become law, it must be approved by the House and President Barack Obama, who is sceptical.
The effort to thwart Iran's alleged nuclear ambitions followed new EU sanctions imposed earlier on Thursday.
Meanwhile, diplomats at the Iranian embassy in London must leave Britain by Friday afternoon.
They were ordered to go after hundreds of Iranian protesters stormed the UK embassy in Tehran on Tuesday.
Oil-price rise?
In recent weeks the US has introduced sanctions against Iran's financial sector, although it has stopped short of targeting the central bank outright.
President Barack Obama has been cautious about harsher sanctions, fearing such a move could disrupt the oil markets at a time of economic uncertainty for many Americans, and alienate potential allies.
US officials have also warned that depriving global markets of Iranian exports could send oil prices sharply higher, gifting Tehran a funding boost.
The attacks on the UK embassy in Tehran has led to Iranian diplomats being expelled from the UK
Unless a compromise is reached, the president will have to decide whether to veto it.
The US has already forbidden its own banks from dealing directly with the Iranian central bank.
Under the new sanctions, drafted by Democrat Robert Menendez and Republican Mark Kirk, foreign banks that do business with Iran's central bank would be cut off from the US financial system.
The sanctions are designed to come into effect after a six-month grace period - in order to give oil markets time to factor them in.
The measures were part of a much larger $662bn (£422bn) defence bill, which also cruised through the Senate on Thursday night.
Europe's new sanctions blacklist 180 Iranian officials and firms, but do not impose an oil embargo on Iran, because some European countries are dependent on Iranian oil.
Ministers meeting in Brussels also agreed on Thursday to work on other measures targeting Iran's energy sector.
The latest round of sanctions follows a recent UN report that linked Iran with the development of a nuclear weapon.
Tehran insists its nuclear programme is strictly for civilian purposes.
Officials say the latest sanctions are not related to this week's storming of the UK embassy in Iran.
The British government says all UK diplomatic staff in Tehran have been evacuated and the embassy closed.
Iran has said it regretted the incident, which it described as "unacceptable behaviour by a small number of protesters".
More on This Story
Iran nuclear crisis
Analysis & Background
Clickable Guides
Guide: Nuclear fuel cycle
BBC World Service
BBC Persian.com
Share this page
Delicious
Digg
Facebook
reddit
StumbleUpon
Twitter
Email
Print
More US & Canada stories
RSS
Top stories
Unemployment in US falls to 8.6%
Suu Kyi hopeful on Burma progress
Nando's axes Mugabe 'dictator' ad
FarmVille maker in $9bn share IPO
Merkel pushes euro fiscal union
Features & Analysis
Most Popular
Shared
1: 'No 2012 end of world' for Maya
2: New Icelandic volcano eruption could have global impact
3: Escape from a WWII submarine
4: Names proposed for new elements
5: Nando's axes Mugabe 'dictator' ad
Read
1: Furore over Pakistan 'ISI' photo
2: 'No 2012 end of world' for Maya
3: Afghan rape victim case clarified
4: Jail for 'stupidest bank robber'
5: New Icelandic volcano eruption could have global impact
6: Cain gave money to Ginger White
7: Nando's axes Mugabe 'dictator' ad
8: US jobless rate drops to 8.6%
9: Escape from a WWII submarine
10: Suu Kyi hopeful on Burma progress
Video/Audio
1: Nando's 'Mugabe' ad causes controversy Watch
2: Icelandic volcano flood warning Watch
3: Obamas embrace Christmas with Kermit Watch
4: Clinton: Democracy is the goal Watch
5: Tutu's anger over Dalai Lama visa Watch
6: 'Epidemic' of liver disease Watch
7: Iran diplomats set to leave UK Watch
8: Taylor's treasures under the hammer Watch
9: The US economy: A lost decade? Watch
10: How can countries go bust? Watch
Elsewhere on BBC News
Giving a bit back
The entrepreneur and now multi-millionaire at the forefront of China's new-found philanthropic thinking
Programmes
Click Watch
Toyota's futuristic car that changes colour and other tech news in Click's weekly bulletin
Services
 News feeds
 Mobile
 Podcasts
 Alerts
 E-mail news
About BBC News
Editors' blog
BBC College of Journalism
News sources
World Service Trust
Mobile
Search term:
bbc.co.uk navigation
News
Sport
Weather
Travel
TV
Radio
More
CBBC
CBeebies
Comedy
Food
Health
History
Learning
Music
Science
Nature
Local
Northern Ireland
Scotland
Wales
Full A-Z of BBC sites
BBC links
About the BBC
BBC Help
Contact Us
Accessibility Help
Terms of Use
Careers
Privacy & Cookies
Advertise With Us
Ad Choices
BBC © 2011 The BBC is not responsible for the content of external sites. Read more.
This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.