Daily Israel Report

Netanyahu: Iran Sanctions Good, But Not Enough

Prime Minister: effective sanctions must continue to be imposed on petrochemical industries and Iranian central bank.
By Gil Ronen
First Publish: 11/24/2011, 4:52 PM

Netanyahu and Boc
Netanyahu and Boc
Flash 90

Prime Minister Binyamin Netanyahu expressed satisfaction Thursday with the latest sanctions imposed on Iran by the United States, Britain and Canada. He warned, however, that they were not enough.

At his joint press conference with Romanian Prime Minister Emil Boc, Netanyahu said:  
 
"The goal of Iran's nuclear program had been the subject of controversy but it is no longer such.  Iran is vigorously working to achieve a nuclear weapon.  This is the threat against Israel, against the region and against the entire world.  

"While it is very important that significant economic sanctions have been imposed, it is insufficient.  Effective sanctions must continue to be imposed on its petrochemical industries and on the Iranian central bank as well, and soon," he added.

The United States expanded its sanctions against Iran this week to include the country's Central Bank and its entire financial system, because of Tehran's pursuit of nuclear weapons.
 
"If you are a financial institution and you engage in any transaction involving Iran’s Central Bank or any other Iranian bank operating inside or outside Iran, you are at risk of supporting Iran’s illicit activities: its pursuit of nuclear weapons, its support for terrorism, and its efforts to deceive responsible financial institutions and evade sanctions," Treasury Secretary Tim Geithner said in a press conference Monday.