The United States has expanded its illegal sanctions on Iranâ„¢s currency and auto industry over unfounded allegations about the Islamic Republicâ„¢s nuclear energy program.
US President Barack Obama on Monday signed an executive order to expand the existing sanctions on Iranâ„¢s finance and energy sectors, in particular its oil exports.
The new illegal sanctions allow the US president to subject other Iranian industries, such as engineering, to similar restrictions.
Sanctions were also imposed on foreign financial institutions that purchase or sell the Iranian currency, rial, and those who have significant amounts of the rial in accounts abroad.
The expanded sanctions also impose a ban on the sale or transfer of goods or services intended for Iranâ„¢s auto sector.
The measures had been approved by the US House Committee on Foreign Affairs on May 22.
On May 31, the US Treasury Department issued a statement, announcing sanctions on eight Iranian petrochemical companies including Bou Ali Sina, Mobin, Nouri, Pars, Shahid Tondgouyan, Shazand, Tabriz and Imam.
At the beginning of 2012, the US and the European Union imposed new sanctions on Iranâ„¢s oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran.
The illegal US-engineered sanctions were imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.
Iran rejects the allegation and argues that it has the right to use nuclear technology for peaceful purposes as a committed signatory to the nuclear Non-Proliferation Treaty (NPT) and a member of the International Atomic Energy Agency (IAEA).
The IAEA has conducted numerous inspections of Iranâ„¢s nuclear facilities, but has never found any evidence showing that the Iranian nuclear energy program has been diverted to non-civilian purposes.
MYA/HSN/HJL
This article originally appeared on: Press TV