Watch Online Obama approves new Iran oil sanctions - Aljazeerah News 30 March 2012 Latest News Updates, Talk Show
Barack Obama, the US president, is moving ahead with tough new sanctions aimed at squeezing Iran's oil exports after determining there is enough crude on world markets to take the step without harming Washington's allies.
Obama's move, announced on Friday, allows the US to go forward with sanctions on foreign banks that continue to purchase oil from Iran.
The measures aim to further isolate Iran's central bank, which processes nearly all of the Islamic Republic's oil purchases, from the global economy.
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