Diplomatic sources have said that the Obama administration plans to add more sanctions to Iran's petrochemical industry. Current US sanctions already prohibit American companies from doing business with Iran. The proposed sanctions, planned to be announced Monday, would bar foreign companies from doing business with Iran's petrochemical industry by threatening to cut off business from America and banning those companies from US markets. The intention of the new sanctions is to take away some of the power form Iran. These new sanctions come just after the IAEA reported there is strong evidence that Iran is building the technology needed to create a nuclear weapon. This is very concerning for all free nations, as Iran is very unstable. Because Iran has huge oil reserves, taking business away from its petrochemical industry might have a big effect.
by Rachel Foy
http://www.cnn.com/2011/11/19/world/meast/obama-iran-sanctions/index.html?hpt=wo_c2
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