Tougher US Sanctions against Iran: Global Reactions and Implications

US President Barak Obama recently signed a tougher sanctions law against Iran in a continuing bid to coerce Tehran into abandoning its nuclear programme. The new sanctions will target Iran’s crucial oil sector and also the financial institutions of any country doing business with Iran’s Central Bank. This has made trading with Iran difficult for countries around the world, especially those importing Iranian oil. They are now looking for alternate oil supplies, or negotiating with the US for a discount, or simply rejecting the sanctions. This Backgrounder discusses the reactions of the emerging powers to the new sanctions and their implications.

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