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Tuesday, November 22, 2011

market reaction US sanctions on Iran nergy and financial sectors

market reaction US sanctions on Iran nergy and financial sectors : The Obama administration will designate Iran and its central bank as a "primary money-laundering concern" Monday and impose new sanctions aimed at deterring the regime from developing nuclear weapons.

The Treasury Department is not planning to sanction Bank Markazi, Iran's central bank, despite calls from some Republicans and Democrats in Congress to do so.

But U.S. officials hope the new set of sanctions will inspire other governments to break off transactions with both the central bank and with businesses in Iran, especially those in its critical energy sector.

The U.S. sanctions were coordinated with British officials, who announced Monday that they would cut off all financial ties with Iranian banks. Canadian officials also were to announce new sanctions against Iran on Monday.

effect new sanctions on Iran on crude oil prices
Brent crude rose above $107 a barrel on Tuesday as fresh sanctions on Iran, and the prospect of possible military action, offset persistent worries about the health of Western economies and their fuel demand. Stock Market Today

MARKET WATCH: Oil prices rise on Iran nuclear work reports
Crude oil and natural gas prices rose Nov. 8, up 1.3% each in the New York market, as Europe’s financial turmoil continued and Iran was reported working to put a nuclear payload on an intermediate-range missile capable of striking Israel. Stock Market Today

Exclusive: U.S. to sanction Iran's petrochemical industry
The United States plans to sanction Iran's petrochemical industry, sources familiar with the matter said on Friday, seeking to raise pressure on Tehran after fresh allegations it may be pursuing nuclear weapons. Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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