Support growing for wider trade curbs on Iran

[Eugene]

Source: Reuters

Support growing for wider trade curbs on Iran

By Carol Giacomo, Diplomatic Correspondent
Thu May 3, 9:41 PM ET

WASHINGTON (Reuters) - Support is growing in the United States and
Russia for action that would require European companies to curb business
in Iran as a means of pressuring Tehran to end its nuclear programs, U.S.
and other diplomatic sources said on Thursday.

U.S.-led efforts to discourage international banks from doing business
with Iran have proven effective but many Iranian industrial sectors --
including automotive, chemical, telecommunications and energy -- benefit
from the heavy involvement of European and other foreign companies,
they said.

-snip-

One diplomatic official, who briefed reporters on condition of anonymity,
said Russia has signaled it will not back a third U.N. Security Council
resolution imposing new sanctions on Iran -- like an arms sales embargo
-- unless Europeans bear more of the burden.

He said this is believed to mean European companies must restrict new oil
and gas investment as well as other business activities and European
governments would have to end export credits and loans.

-snip-

Read more: http://news.yahoo.com/s/nm/20070504/pl_nm/iran_usa_nuclear_dc