US Senate Banking chief urges no new sanctions over Iran now

The chairman of the US Senate Banking Committee said on Thursday he does not support any new sanctions on Iran now, saying he agrees with the Obama administration that such legislation could disrupt delicate negotiations seeking to curb Iran's nuclear program.

"We should not do anything counterproductive that might shatter western unity on this issue," Democratic Senator Tim Johnson, chairman of the panel, which oversees sanctions legislation in the Senate, said at a hearing. (Reuters)