The Obama administration, frustrated by stalled nuclear diplomacy with Iran, enacted new sanctions against Tehran Thursday, July 12, which are aimed at further eroding its military industries and oil exports, The Wall Street Journal
reported. The U.S. Treasury and State Departments targeted 11 companies working under Iran’s Ministry of Defense for Armed Forces Logistics that the U.S. alleges are involved in developing the country’s nuclear and long-range missile programs. The administration also targeted dozens of banks and shipping companies the U.S. believes are attempting to help Iran evade a European Union embargo on the purchasing of Iranian crude oil that went into effect this month. The U.S. “will continue to ratchet up pressure as long as Iran refuses to address…well-founded concerns about its nuclear program,” said Treasury Department official David Cohen.