US slaps sanctions on Iran's military - Rice UPDATE |
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Thu, 25 Oct 2007 14:28
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(updates with further detail)WASHINGTON (Thomson Financial) - US Secretary of State Condoleezza Rice on Thursday said the US administration was imposing sanctions on Iran's military and three Iranian banks to choke off funds to the Islamic Republic.'What this means is that no US citizen or a private organization will be allowed to engage in financial transactions with these persons and entities,' Rice said in a statement to reporters.'These actions will help to protect the international financial system from the illicit activities of the Iranian government. They will provide a powerful deterrent to every international bank and company that thinks of doing business with the Iranian government.'Rice, who on Wednesday said that Iran and its suspect nuclear program posed the single greatest challenge to US security, reiterated that the United States was committed to resolving the crisis through diplomatic means.But she warned: 'If they choose to continue down a path of confrontation, the US will act with the international community to resist these threats of the Iranian regime.'The sanctions target Iran's elite Quds Force, accused by the US of being a supporter of terrorism, and its Revolutionary Guards said to be a proliferator of weapons of mass destruction.Three state-owned banks were also targeted, Rice said without naming them, along with certain private individuals and organizations.Treasury Secretary Henry Paulson accused the Islamic Republic of exploiting 'its global financial ties to pursue nuclear capabilities, to develop ballistic missiles and fund terrorism.'He said the US sanctions would 'engage financial institutions worldwide to make the most informed decisions about those with whom they choose to do business.'It is plain and simple, reputable institutions do not want to be bankers to this dangerous regime. We will continue to work with our international partners to prevent Iran from abusing the international financial system and to advance its illicit conduct.'tf.TFN-Europe_newsdesk@thomson.comâafp/jlcCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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US to impose sanctions on Iran military - reports 