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U.S. considering new sanctions on Iran

Source: VOA

United States lawmakers are mulling over a new package of sanctions on Iran that would restrict the Islamic Republic's ability to engage in international business deals even for non-petroleum products.

The Associated Press reports that the new sanctions, if approved, would impose restrictions on a variety of exports to Iran, including agricultural, industrial and consumer goods, while also targeting Iranian assets overseas.

On Thursday, the Obama administration announced that four Iranian officials and five organizations have been put under sanction by the United States for jamming satellite broadcasts and blocking internet access for domestic users.

The new sanctions package reportedly offers some exemptions; however, European and Asian countries selling machinery and other products into Iran would face being barred from the U.S. market.

Iran is already facing a significant fall in its oil revenues due to the U.S. and EU sanctions on its oil and financial sectors. The UN has confirmed that the sanctions have caused shortages of medical supplies.

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