Obama’s New Iran Sanctions Target Energy, China, Iraq Banks

The U.S. announced new sanctions on Iran’s energy and petrochemical sectors and on banks in China and Iraq that have facilitated transactions on behalf of Iran, steps that President Barack Obama said show the “growing consequences” as Iran avoids its international obligations.

The moves were announced while Obama’s presidential campaign rival, Republican Mitt Romney, wrapped up an overseas trip that included a stop in Israel, where Romney said he supported the country’s use of “any and all measures” to stop Iran’s nuclear arms program and suggested Obama hadn’t done enough.