Montreal: Canada announced new sanctions
against Iran on Monday, notably targeting the energy industry to
press it to resume negotiations on its controversial nuclear
The sanctions announced by Foreign Minister Lawrence
Cannon are similar to those imposed by the United States and
the European Union.
They take aim at Iran`s energy and banking sectors, as
well as chemical, biological and nuclear activities, Cannon
Like the EU and the United States, Canada will bar all
new investment in Iran`s energy industry, particularly crude
oil refining and liquefied natural gas.
Although Iran is the world`s fourth largest oil producer,
it imports nearly 40 per cent of its fuel needs because it
lacks the refining capacity required to meet domestic demand.
The sanctions are in addition to a fourth set of
sanctions imposed by the United Nations June 9.
Iran responded to the UN action by suspending talks about
its nuclear program with six world powers -- the United
States, Russia, China, Germany, France and Britain.
The United States and its allies believe Iran is using a
uranium enrichment program to produce fissile material for
nuclear weapons, a charge that Tehran denies.