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Canada Hits Iran With New Sanctions


Canadian Foreign Affairs Minister Lawrence Cannon said his country's new measures will include a ban on any new Canadian investment in Iran's oil and gas sector.

Canadian Foreign Affairs Minister Lawrence Cannon said his country's new measures will include a ban on any new Canadian investment in Iran's oil and gas sector.

Canada has followed the European Union in adopting tougher sanctions targeting Iran's energy sector in an effort to curb its disputed nuclear program.

The European and Canadian sanctions include measures to block dealing with Iranian banks and steps to prevent investment in Tehran's oil and gas sector, including refining.

Canadian Foreign Affairs Minister Lawrence Cannon said his country's new measures will include a ban on any new Canadian investment in Iran's oil and gas sector.

Ali Asghar Soltanieh, Iran's envoy to the UN's nuclear agency, the IAEA, said after the European move that Tehran was ready to return to negotiations on a nuclear fuel swap "without conditions."

Later, Iran's Foreign Ministry said that country "deeply regrets and condemns" the new set of EU sanctions.

German Foreign Minister Guido Westerwelle had told a news conference in Brussels earlier on July 26 that "it's never good for export nations when such sanctions have to be decided -- it's not good for us either -- but it would be much worse to allow Iran to get nuclear weapons."

The United States has already adopted stricter sanctions in the wake of a fourth UN resolution aimed at convincing Tehran to curb sensitive nuclear activities.

compiled from agency reports
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