Monday, January 16, 2012

Israel urges crippling sanctions on Iran

Source: Press TV

Israeli Foreign Minister Avigdor Lieberman has said that tougher sanctions should be imposed against Iran to stop its nuclear program.

On Monday, Lieberman urged sanctions against Iran's Central Bank and the country's oil and gas industry and "everything that is connected to their oil and gas production."

He also did not rule out military action and reiterated that Israel keeps "all options on the table."

In a Monday statement, Netanyahu also said current US and EU sanctions against Iran are not sufficient.

"As long as there won't be real and effective sanctions against Iran's petroleum industry and central bank, there will be no real effect on Iran's nuclear program," Netanyahu said.

US President Barack Obama earlier this month imposed fresh sanctions against Iran's Central Bank and financial sector.

Israel and the US are both seeking tough new international sanctions on Iran, particularly on the country's oil exports.

Later this month, EU member states are scheduled to meet to discuss the proposed embargo on Iran's oil sector.

Tehran says that it will react to Western oil sanctions against the country by choking oil flow through the Strait of Hormuz.

The Strait of Hormuz, a waterway which connects the Persian Gulf on the west to the Sea of Oman, is vital to global oil trade as 40 percent of the seaborne oil transit passes through the waterway.

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