Iran

    Japan has imposed sanctions on Iran, growing the international pressure to force Iran to abandon its nuclear program. The new sanctions, announced Sept. 3 by Japanese Chief Cabinet Secretary Yoshito Senggoku, targets Iran’s banking and energy sectors, BBC says. They involve a ban on transactions with several Iranian banks, including the country’s central bank, and a freeze on assets of individuals and organizations linked to Iran’s nuclear program. The new sanctions were lauded by Australia and the U.S. Both countries, along with European Union and the U.N., have imposed tough sanctions against Iran over the last few months.

    Following Japan’s announcement, a spokesperson for the Iranian foreign ministry said countries that impose sanctions against Iran are creating problems for their companies, according to Tehran Times. Ramin Mehmanparast added that such countries pass on business opportunities to rival economies and “waste their national interests,” the newspaper reports.

    About the author

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      Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.