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US makes new law against Iran

(Xinhua)
Updated: 2009-10-29 09:06

WASHINGTON: A panel of the US House of Representatives on Wednesday approved a legislation that paves way for tightening sanctions against Iran for its disputed nuclear program.  

Following the approval of the legislation by the House Foreign Affairs Committee, foreign companies that are doing gasoline business with Iran are subject to tough US sanctions.

Despite its rich oil resources, Iran reportedly has long been dependent on gasoline imports to meet about 40 percent of domestic consumption.

Britain, France, Switzerland and India are, among others, exporters of refined petroleum products to the Islamic Republic.  

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The United States, its European allies and Israel claim that Iran's nuclear program is aimed at developing nuclear weapons, while the UN Security Council also requires Iran to suspend its uranium enrichment activity.

However, Iran insists that its nuclear plan is only for peaceful purposes, and continues its uranium enrichment activity despite the pressure from the western countries and relevant resolutions and sanctions of the United Nations.