Obama hails UN Iran sanctions draft

US President Barack Obama on Wednesday hailed a UN draft plan to impose tougher sanctions on Iran and again called on the country to live up to its international obligations.

A draft UN plan circulated on Tuesday proposed a modest expansion of sanctions on Iran over its refusal to halt uranium enrichment. The 10-page draft - agreed by the United States, Britain, France, Germany, China and Russia after months of negotiations - targets Iranian banks and calls for inspections of vessels suspected of carrying cargo related to Iran's nuclear or missile programs. (Reuters)