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The United States imposed stiff sanctions against Iran on Thursday, targeting two Iranian military groups and a number of Iranian banks and people it accuses of backing nuclear proliferation and terror-related activities.
"What this means is that no U.S. citizen or private organization will be allowed to engage in financial transactions with these persons and entities," Secretary of State Condoleezza Rice said. "In addition, any assets that these designees have under U.S. jurisdiction will be immediately frozen."
Rice and Treasury Secretary Henry Paulson made the announcement in a brief appearance before reporters on Thursday morning.
Rice accused Iran of "pursuing nuclear technologies that can lead to a nuclear weapon; building dangerous ballistic missiles; supporting Shia militants in Iraq and terrorists in Iraq, Afghanistan, Lebanon and the Palestinian territories; and denying the existence of a fellow member of the United Nations, threatening to wipe Israel off the map."
"Many of the Iranian regime's most destabilizing policies are carried out by two of its agencies: the Islamic Revolutionary Guard Corps, or the IRGC, and the Quds force, an arm of the IRGC," she said.
Originally posted by Rockpuck
production to reduce prices for Americans ... OPEC will stand firm with current levels as prices rise.. some experts are estimating that in a few months time we will be well above $100 a barrel, especially with holiday traffic coming..