US welcomes EU sanctions on Iran, hopes they lead to nuclear talks
Dubai (Platts)--23Jan2012/512 pm EST/2212 GMT
The US on Monday welcomed EU sanctions banning Iranian oil and
petrochemical exports to Europe, saying Washington hoped that Tehran
would be motivated by the loss of its oil revenue to negotiate a
settlement to the nuclear crisis.
"We welcome today's decision by the European Union to ban imports of
Iranian crude oil and petroleum products, freeze the assets of the
Iranian central bank, and take additional action against Iran's energy,
financial, and transport sectors," US Secretary of State Hillary Clinton
and Treasury Secretary Timothy Geithner said in a joint statement.
"The measures agreed to today by the EU Foreign Affairs Council are
another strong step in the international effort to dramatically increase
the pressure on Iran," the statement said, adding that the EU move
announced earlier Monday was consistent with steps taken previously by
the US and signed into law December 31.
The US and its allies were committed to preventing Iran from acquiring
nuclear weapons, they added.
"That is why we have pursued a dual-track policy that puts pressure on
Iran to engage seriously in discussions with the international community
on its nuclear program," they said.
The statement said that Iran had failed to address the international
community's concerns over its nuclear program or take up an EU offer for
conditional talks to resolve the row.
Iran has insisted that its nuclear program is peaceful and designed to
generate electricity.
However, it has failed to comply with international calls to come clean
on what the US and its allies believe is a covert program to develop
nuclear weapons, fears that were heightened following a November report
by the International Atomic Energy Agency that suggested Iran had
attempted some years ago to develop military applications for its
nuclear program.
--Kate Dourian,
kate_dourian@platts.com
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