Barack Obama announces sanctions against banks accused of aiding Iran

As well as targeting the banks, the White House announced expanded sanctions
against those who purchase Iranian petrochemical products or provide “material
support” to the National Iranian Oil Company and the Central Bank of
Iran.

The White House said it was committed to a find a diplomatic solution to the
standoff but would “hold the Iranian government accountable for its
actions” as long as it continued to defy the international community.

Senior aides to Mr Obama also pushed back against criticism from Israeli Prime
Minister Netanyahu, who said that the American-led sanctions programme had
not slowed Iran’s nuclear programme “by one iota”.

The sanctions were having a “significant impact” on the Iranian
economy and the decision making of Iran’s government, said Ben Rhodes,
Deputy National Security Advisor.

Mr Romney visited Israel over the weekend where he declared that the US had a “moral
imperative” to prevent Iran from acquiring a nuclear bomb while a
senior aide said the Republican would respect Israel’s decision if it
launched a unilateral strike on Iran’s nuclear facilities.

The Romney camp put out a statement after the sanctions were announced,
saying: “Since taking office three and a half years ago, President Obama has
allowed Iran’s nuclear ambitions to proceed unimpeded.”

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