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Obama ratifies unilateral Iran sanctions

02 July 2010 04:34 (UTC +04:00)

The measure comes on top of new rounds of UN Security Council and European sanctions against Iran over its nuclear program.

"With these sanctions -- along with others -- we are striking at the heart of the Iranian government’s ability to fund and develop its nuclear programs," Obama said before signing the sanctions into law on Thursday, AFP reported.

Last week, the US congress voted in favor of another set of unilateral sanctions against Iran’s energy and banking sectors citing the Islamic Republic’s refusal to halt its civilian nuclear program.

The bill will deny companies that supply Iran with refined petroleum products access to US markets.

The sanctions are aimed at bringing additional pressure on Iranian dependence on imported petrol products, the report says.

Tehran, however, has announced that the sanctions will put no pressure on the country since it has the ability to meet its energy needs on its own if required.

"Despite sanctions, Iran will be self-sufficient in gasoline production within two years and after that we can begin exporting gasoline," Iran’s Deputy Oil Minister Ali-Reza Zeighami said.

While the US possesses and has used nuclear weapons in the past, Washington, in a politically-motivated move, is now imposing unilateral sanctions against Iran, which does not possess nuclear weapons nor does it seek to develop such weapons.