Australia is imposing new sanctions against Iran in a fresh effort to pressure it into abandoning its nuclear program.
Foreign Minister Bob Carr says the new autonomous sanctions will restrict dealings with Iran’s oil, gas, petroleum and financial sectors.
They will also restrict trade in gold, precious metals, diamonds and new Iranian currency.
“These sanctions aim to increase pressure on Iran to comply with nuclear non-proliferation obligations and with United Nations Security Council resolutions,” Senator Carr said in a statement on Wednesday.
“By introducing these sanctions – alongside others such as those of the European Union – we seek to bring Iran back to serious negotiations.”
The sanctions targeting Iran’s financial services sector prohibit any Iranian financial institution setting up in Australia, and vice versa.
The also prohibit any commercial relationship between Australian and Iranian financial institutions. read on..