The US is so worried about Iran developing an atomic bomb, the Senate has unanimously approved legislation that will allow them to put tough new sanctions on Iran’s Central Bank, cutting them off from the global financial system, unable to receive payment for their oil. The vote is also designed to persuade banks around the world to adopt economic sanctions similar to the UK's announcement that they will block Iran's entire banking system.
The US stopped importing Iranian oil in 1987 and have pressured most European countries to do the same. But there are still countries like Italy, Spain and Greece who rely on it and hurried negotiations are being made to find alternative sources. Greece initially voted against the oil sanctions because the Iranians allowed them to pay on credit and one wonders who will be prepared to sell them oil in the future, knowing about their cash-strapped circumstances.
The 27-member European Union says there is now ‘credible evidence’ to show that Iran is developing nuclear weapons and they have hatched a plan to bring the regime into line. They have agreed to impose European travel bans and freeze the assets of 370 Iranian individuals and companies involved in Tehran’s nuclear weapons programme and those blacklisted include members of the Iranian Revolutionary Guard.
Iran said they were sorry for the attack on the UK embassy this week and a number of protesters had been arrested. But Fars news agency said yesterday that police had freed 11 militant students and no explanation was given for their release.
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