WASHINGTON: The United States plans to sanction Iran's petrochemical industry, sources familiar with the matter said, seeking to raise pressure on Tehran after fresh allegations it may be pursuing nuclear weapons.
The sources said Washington wanted to send a strong signal after the UN nuclear watchdog issued a November 8 report saying Iran appeared to have worked on designing an atomic bomb and may still be secretly carrying out related research.
The sources, who said the sanctions could be unveiled as early as Monday, said the Washington wanted to find a way to bar foreign companies from aiding Iran's petrochemical industry with the threat of depriving them access to the US market.
While European nations typically resent "extra-territorial" US sanctions on their companies, the sources, who spoke on condition of anonymity, said in this case the Europeans would likely follow suit, though not immediately.
US firms are barred from most trade with Iran. The US push is therefore aimed at foreign firms by in effect making them choose between working with Iran's petrochemical industry or doing business in the vast US market.
It was not clear what authorities the Obama administration planned to invoke to impose the sanctions or precisely how, and how much, they would hurt Iran's petrochemical sector.
The United States suspects Iran may be using its civil nuclear program as a cover to develop nuclear weapons. Iran has insisted its program is purely peaceful.
Anxieties about Iran's nuclear program increased after the International Atomic Energy Agency (IAEA) released intelligence last week suggesting Iran has undertaken research and experiments geared to developing a nuclear weapons capability.
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