Iran Sanctions, Nuclear Weapon | featured news

Iran is increasing the number of advanced uranium enrichment centrifuges installed at its Natanz underground plant, despite tightening international sanctions aimed at stopping Tehran's nuclear progress, diplomats said on Wednesday.

The Senate on Friday resoundingly approved new sanctions on trade with Iran's energy, port, shipping and ship-building sectors, its latest effort to ratchet up economic pressure on Tehran over its nuclear program.

Iran said on Tuesday it would stop oil exports if pressure from Western sanctions got any tighter and it had a “Plan B” contingency strategy to survive without oil revenues.

...U.S. officials say the list sends a clear warning to Iran's suppliers that the net is closing. But Frosch's ability to continue selling sensitive equipment and evade prosecution also is a cautionary tale about gaps in the U.S.-led sanctions campaign, which has sent Iran's economy into a tailspin but has yet to persuade its leaders to curb their nuclear program.

Congress is pressing ahead with a new package of crippling sanctions on Iran, expanding on financial penalties and targeting Tehran's energy and shipping sectors in the hope that economic pressure undercuts its suspected nuclear weapons program....

Iran has reached agreements with European refiners to sell some of its oil through a private consortium, an official said on Saturday, a move designed to circumvent sanctions intended to put pressure on Tehran to halt its disputed nuclear program.

Iran's nuclear chief signaled Tehran's envoys may bring a compromise offer to the talks this week with world powers: Promising to eventually stop producing its most highly enriched uranium, while not totally abandoning its ability to make nuclear fuel.

U.S. President Barack Obama said on Friday he has determined there is enough oil in the world market to allow countries to cut imports from Iran, allowing Washington to begin sanctioning countries that continue to buy Iranian oil.

The United States exempted Japan and 10 EU nations from financial sanctions because they have significantly cut purchases of Iranian crude oil, but left Iran's top customers China and India exposed to the possibility of such steps.

The body that handles global banking transactions says it will cut Iran's banks out of the system on Saturday to enforce EU sanctions.