IAEA + Iran + Sanctions

After the Iranian Revolution of 1979, the USA had imposed sanctions on Iran. In 1995, the sanctions were further extended to encompass companies that dealt with the government of Iran as well. In November 2011, the International Atomic Energy Agency or the IAEA reported that there could be a possible military angle to the country’s uranium enrichment programme. The United Nations Security Council passed Resolution 1696 in the year 2006 which imposed sanctions on Iran after the country declined to stop its enrichment activities. The US sanctions in the beginning were targeted at investments in oil, gas, petrochemicals and the export of refined petroleum products, and also commercial transactions with the Iranian Revolutionary Guard Corps. Included in this are banking and insurance dealings (even dealings with the Central Bank of Iran), shipping, web-hosting services for businesses and domain name registration services. These sanctions have had a negative impact on the life of the people as well as on Iran’s economy.

Leave a Comment

Your email address will not be published. Required fields are marked *