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New US sanctions against IRISL

Washington: The U.S. Treasury Department has revealed that it has put new sanctions into place against the Islamic Republic of Iran Shipping Lines (IRISL) and the Islamic Revolutionary Guard Corps (IRGC) in an effort to increase pressure on Iran for its nuclear programme. The US has stated that it intends for the sanctions to cut off financial network services for the guard corps and shipping line rather than affect oil trade. However, market analysts have warned that the sanctions will serve to further complicate any arrangements for trading oil products from or with Iran.

US citizens and financial institutions have also been banned from interactions with two Iranan banks, Ansar Bank and Mehr Bank, as the government claims that they are supporters of IRGC.

 The sanctions came as the United States and other big powers prepare for another round of talks with Iran next month on its nuclear program after an initial meeting in Geneva that U.S. officials described as "difficult and candid", writes Reuters.  [22/12/10]

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