Canadian Foreign Minister Comments on Canada's New Iran Sanctions
The Minister of Foreign Affairs commented on July 26, 2010 on Canada’s new sanctions against Iran. “For almost 20 years, Iran has concealed its nuclear program and has violated its international obligations on non-proliferation. On July 11, 2010, Iran announced…
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that it had produced 20 kilograms of uranium enriched to nearly 20 percent, in flagrant violation of previously imposed resolutions. These actions bring Iran closer to building nuclear weapons that threaten us all. Under the Special Economic Measures Act, Canada is imposing further sanctions. The new measures prohibit dealings with designated persons involved in nuclear, chemical, biological and missile proliferation. They ban the export of proliferation-sensitive goods, items for refining oil and gas, all remaining arms, and technology related to these goods. They prohibit any new investment in Iran’s oil and gas sector. These measures also bar Iranian financial institutions from establishing a presence in Canada, and vice versa, while banning correspondent banking relationships with Iranian financial institutions and the purchase of Iranian government debt. The sanctions are effective immediately."