11/21/2011
The British government has imposed tough new financial restrictions against Iran over Tehran’s nuclear program — cutting off all financial ties between the British financial sector and all Iranian banks.
British Chancellor of the Exchequer George Osborne announced the restrictions in a statement.
It says that starting from November 21, all British credit and financial institutions are required to cease all transactions with Iranian banks, including the Central Bank of Iran.
Osborne said it was the first time the British government had cut an entire country’s banking sector off from Britain’s financial sector.
Meanwhile, the Associated Press quoted an unidentified U.S. official as saying Washington will impose fresh sanctions on Iran later on November 21, teaming with Britain and Canada to pressure Tehran to halt its suspected nuclear weapons program.
The moves follow a report by the International Atomic Energy Agency (IAEA) that expressed “serious concerns regarding possible military dimensions” to Iran’s nuclear program.
Iran insists its nuclear program is only for peaceful, civilian purposes.
