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US private sector against Iran sanctions

An Iranian commerce official says the financial environment in Europe and the United States is against the current economic sanctions imposed on Iran.

“The financial atmosphere in Europe and the United States is not pleased with the sanctions against Iran,” Chairman of Iran’s Chamber of Commerce, Industries and Mines (ICCIM) Mohammad Nahavandian said on Wednesday.

“Many oppose the sanctions in the United States. In a statement sent to us by the United States’ chamber of commerce and seven other institutions, they all said the private sector in the US was opposed to sanctions against Iran,” Nahavandian said in an interview with Fars News Agency.

He also hailed the resignation of Stuart Levey, who was a key player behind Washington’s efforts to pressure Iran over its nuclear energy program.

Levey worked as the Treasury Department’s undersecretary for terrorism and financial intelligence and was US President Barack Obama’s point man on cracking down on financial flows to Iran.

On June 9, 2010, the UN ratified a US-engineered resolution imposing new sanctions on Iran over allegations that Iran is pursuing a clandestine nuclear weapons program.

The sanctions particularly targeted Iran’s energy and financial sectors.

Tehran has refuted the Western allegations, saying it needs nuclear energy to meet its growing domestic demand for electricity.

Iran argues that as a signatory to the Nuclear Non-Proliferation Treaty, it has the right to enrich uranium to produce fuel.

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