Wednesday, November 30, 2011 at 5:24 PM
The latest idea for pressuring Iran is to make it hard for countries to do business with Iran's central bank. The proposal has strong bipartisan support in Congress, and legislation is moving rapidly ahead. But there's a risk. Iran sells its oil through its central bank. If Iranian oil cannot go into the global market, oil prices could spike. The Obama administration is looking for ways to fine tune any possible new central bank sanctions in such a way as to minimize the threat to the global economy.
Iranian President Mahmoud Ahmadinejad waves in Pakdasht, southeast of Tehran, Nov. 23. Ahmadinejad on Wednesday said he was surprised at European moves to isolate Tehran's central bank.
HO | Reuters/Landov
This article is filed in: World News
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