U.S. Announces New Sanctions on Iran

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Photo: Bloomberg/Getty Images

On the heels of last week’s U.N. resolution, the Obama administration said Wednesday it has imposed stricter sanctions on Iran, announcing a blacklist of an Iranian bank and 22 other companies that it says have aided Iran’s nuclear program. Treasury Secretary Timothy Geithner said the companies will have their U.S. assets frozen, explaining, "In the coming weeks, we will continue to increase the financial pressure on Iran … we will continue to target Iran's support for terrorist organizations." Presumably, Ahmadinejad will compare these sanctions to a dishrag or a rotten banana.

U.S. Imposes New Penalties on Iran [NYT]