WASHINGTON - The Bush administration announced sweeping new sanctions against Iran Thursday - the harshest since the takeover of the US Embassy in 1979 - charging anew that Tehran supports terrorism in the Middle East, exports missiles and is engaging in a nuclear build up.
US Secretary of State Condoleezza Rice, right, accompanied by Treasury Secretary Henry Paulson, announces new sanctions against Iran, Thursday, Oct. 25, 2007, at the State Department in Washington. [Agencies]
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Secretary of State Condoleezza Rice, joined at a State Department news conference by Treasury Secretary Henry Paulson, said the moves against Iran's Revolutionary Guard Corps, an element of its defense ministry, and three of its largest banks are designed to punish Tehran for weapons proliferation and alleged support of terrorist organizations in Iraq and the Middle East.
"Unfortunately the Iranian government continues to spurn our offer of open negotiations, instead threatening peace and security," through its disputed nuclear program, production of ballistic missiles and alleged support for terrorist groups across the Middle East, Rice said.
The United States has long labeled Iran as a state supporter of terrorism and has been working for years to gain support for tougher sanctions from the international community aimed at keeping the country from developing nuclear weapons.
Rice said the moves were in response to "a comprehensive policy to confront the threatening behavior of the Iranians" but that Washington remains committed to "a diplomatic solution" and open to negotiations with Iran.
