Obama Restricts Economic Sanctions against Iran

On Friday U.S. President Barack Obama signed a law on restricting the economic sanctions against Iran, which was previously confirmed by the Senate and the House of Representatives, ITAR-TASS reports.
According to the authors of the document, the law should increase pressure on the Iranian government for refusing to implement international obligations and for the attempts to acquire nuclear weapons. The law prohibits U.S. entrepreneurs to conduct business with the Iran's oil sector, as well as with the shipping and insurance companies. In addition, on the way of starting any economic process a number of difficulties occur - the cooperation with the sales of expensive paper, gold, with the Iranian facilities, including the Central Bank.
According to the document, other international organizations, which are in a business relationship with Iran, may follow the U.S. example.
The new law also includes the sanctions published by the Security Council of UN in the United Sates,1929, as well as the national laws and the presidential decree. One of the goals is also the prevention of the access of Iranian oil to USA and Europe. In addition, the document includes a special chapter, according to which the Syrian officials, who violate human rights in their country should be punished as well. The list of the latters and of those engaged in business with Iran, should be presented to the Congress in 3 months by the President, after which the list should be refreshed every 6 months.
Earlier, on Tuesday, U.S. Treasury made an announcement on the implementation of sanctions against Sytrol company, which deals in petrol and is considered Iran’s property. And last week, Obama made an order prohibiting the purchase of oil productions from Iranian companies.
Commenting on the strict sanctions against IRI, Ben Rods, US Vice-President in National Security, announced, that Obama succeeded in creating the ever strongest regime of sanctions against Iran. According to him the sanctions started to affect Iran’s economy with tangible results. When the European Union put embargo on Iranian oil exports on, the oil sales in world market decreased by approximately 40 percent. "Every quarter Iran loses a revenue of 9 billion dollars," the White House representative commented.  "We are waiting for the sanction to have a greater influence,” said Rods.