US hits Iranians with fresh sanctions

THE United States yesterday ratcheted up tensions over Iran’s nuclear drive and alleged backing for terrorism with a raft of new sanctions targeting the Islamic republic’s military and banks.

The sanctions target the Islamic Revolutionary Guard Corps (IRGC), which was accused of proliferating weapons of mass destruction, and the IRGC’s elite Quds Force, which was designated as a supporter of terrorism.

Three Iranian state-owned banks were also blacklisted as the US stepped up a drive to squeeze Iran out of the international banking system.

“These actions... will provide a powerful deterrent to every international bank and company that thinks of doing business with the Iranian government,” Rice said.

The move was the latest by the US administration to step up pressure on Iran, which it accuses of fomenting global terrorism, supporting insurgents in Iraq and working to develop an atomic bomb.

President George W Bush suggested last week that a nuclear-armed Iran could trigger World War III.