Obama orders blocking of Iranian banks, properties in US

In a communique to the US Congress, Obama said his administration feels additional sanctions are needed on Iran in light of the "deceptive practices" of the Central Bank of Iran and other Iranian banks to conceal transactions of sanctioned parties.

Obama said he has determined that there are deficiencies in Iran's anti-money laundering regime and the weaknesses in its implementation and continuing and unacceptable risk posed to the international financial system by Iran's activities.

As such Obama said he has signed an executive order that blocks the property and interest in property of the Government of Iran, the Central Bank of Iran and its other financial institutions.

   
"All property and interests in property of any Iranian financial institution, including the Central Bank of Iran, that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of any United States person, including any foreign branch, are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in," the executive order says.

US and its allies have accused Iran of pursuing a nuclear weapons programme.The West accuses Tehran of assembling the material and know-how to build a nuclear bomb, a charge denied by Iran which says its atomic programme is for peaceful use.

Soon after Obama signed the executive order imposing additional sanction on Iran, the White House said on Tuesday that Tehran has the option to join the international community if it give up its nuclear ambition.
 

White House Press Secretary Jay Carney said the latest sanctions by the US is reflective of its dual track policy that offers the "option for them to rejoin the international community".

He said if Iran gets serious about their international obligations, if they respond to the letter from Lady Ashton (from European Union) about starting negotiations with the P-5-plus-1, if they agree to give up their nuclear weapons ambitions, "then there is an option for them to rejoin the international community".

Responding to a question, he said because Iran has not done that "we will ramp up the effort to isolate and pressure the regime, working with our international allies,".

He underlined that there has been increase in sanctions against the Iranian regime.
 

"Look, Iran is a very dangerous place. It's a dangerous regime and we take specifically the refusal to abandon their nuclear ambitions very seriously, Carney said hours after the NBC news telecast an interview of the US President in which he said that the US hasn't removed any option from its table but is still looking for a diplomatic resolution of the issue.

Carney said the sanctions have had significant impact on the Iranian economy and helped exacerbate tensions within the Iranian leadership that are now quite apparent.

In contrast, he said, when President Obama took office, "Iran was unified and the world was not, with regards to Iranian nuclear ambitions, the opposite is now true."

He underlined the US administration's policy to "continue to pursue that course and press for change in behavior by the Iranian regime" even as the President has made clear that the US has not removed "any options from the table".