United Nations Security Council Resolution 1929 recognized the connection between the revenues the Iranian regime derived from its energy sector and the funding of its proliferation-sensitive nuclear activities.
In part because of that connection, on December 31st, President Barack Obama signed legislation imposing new sanctions on Iran that target the Central Bank of Iran and, through them, oil revenues. Foreign financial institutions that facilitate certain transactions with the Central Bank of Iran or U.S.-designated Iranian banks, including for the purchase of Iranian petroleum, will be barred from the U.S. financial system. The European Union has now agreed to ban imports of Iranian oil and petroleum products.
These new measures are meant to increase pressure on the Iranian regime to persuade it to meet its international nuclear obligations, including full compliance with relevant UN Security Council and International Atomic Energy Agency resolutions.
Iranian authorities acknowledge that sanctions are hurting the Iranian economy -- yet another burden borne by the Iranian people because of the policies of their government.
The United States and the international community recognize Iran’s right to peaceful nuclear energy, when it complies with its international nuclear obligations. Although the United States stands with the Iranian people, the Iranian regime’s refusal to comply with its international nuclear obligations presents a threat to regional and global security.
The United States and its partners are determined to prevent Iran from acquiring nuclear weapons; pressure and sanctions will continue until the Iranian government changes course.