Monday, November 29, 1999

U.S. to unveil steps to build on Iran sanctions

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Senior U.S. officials will unveil on Wednesday new economic steps they plan to take to try to pressure Iran over its nuclear program and build on the latest round of U.N. sanctions, an Obama administration official said.U.S. Treasury Secretary Timothy Geithner and Stuart Levey, under secretary for terrorism and financial intelligence, are to appear at a White House briefing with reporters at 2 p.m. EDT (1800 GMT).They "will discuss additional steps that Treasury will take to implement and build upon the Iran sanctions resolution that just passed the U.N.," the administration official said.European Union members have agreed to push ahead with plans to move beyond the sanctions imposed by the U.N. Security Council last week, with extra measures including steps to curb investment in Iran's energy sector.Iran, which insists its nuclear program is for peaceful purposes, has remained defiant over sanctions and has said it will respond to sanctions by curbing exports of minerals to countries that backed the U.N. measure.Levey has led an effort within the Obama administration to convince foreign companies that it is becoming too politically risky for them to do business with Iran.(Writing by Caren Bohan; Editing by Matt Spetalnick and Jackie Frank) ((; +1 202 898 8300; Reuters Messaging:

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