AJC Applauds New EU Sanctions to Stop Iran Nuclear Program

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May 23, 2011, 12:42 ET

NEW YORK, May 23, 2011 /PRNewswire-USNewswire/ -- AJC applauded new EU sanctions, blacklisting an additional 100 firms that do business with Iran, a further push to change the radical regime's drive to develop nuclear-weapons capability.

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"This latest EU action, together with continuing U.S. measures, clearly shows that stopping Iran's nuclear program remains of paramount importance," said AJC Executive Director David Harris. "A nuclear-armed Iran would pose a profoundly dangerous regional and global threat. It cannot be allowed to happen."

Today's EU action follows President Obama's declaration yesterday in a Washington, D.C., speech that the U.S. "remains committed to preventing Iran from acquiring nuclear weapons."

The U.S., joined by the EU, has led international efforts to increase economic and diplomatic pressures on Iran. The UN Security Council has adopted four resolutions, the latest last June, and the U.S., EU, and several other countries have imposed additional measures to curtail commercial and financial transactions with Iran.

Among the 100 firms targeted by the EU is the Hamburg-based Europaeisch-Iranische Handelsbank (EIH), or European-Iranian Trade Bank, which specializes in business with Iran. The U.S. already had banned business with EIH. AJC has long pressed top German leaders, including in meetings with the Chancellor and Economy Minister, to take action against the bank.

In addition, through its European offices, AJC has consistently worked with EU institutions and governments to increase the political and economic pressure on Iran. The full EU list adopted today in Brussels is expected to be released tomorrow.

"International action and will must be stronger than Iranian defiance," said Harris. "Other major powers should join with the EU and U.S., which have understood that the long-term threat of a nuclear Iran far outweighs any short-term economic interests."

SOURCE American Jewish Committee