US tightens penalties on Iran, Syria
President Barack Obama is tightening penalties on foreign entities and individuals who try to evade sanctions on Iran and Syria. Obama authorized the penalties in an executive order signed Tuesday. The administration said he took the step in response to efforts by the Iranian and Syrian governments to avoid the consequences of US-mandated sanctions.
The executive order gives the Treasury Department the capability to publicly identify foreign individuals and entities that try to sidestep the restrictions. The new penalties also bar violators from accessing the US financial and commercial systems. (AP)
