Iran has been hit with new Western sanctions that target Iran’s banks, oil and gas industry, and petrochemical industry. These sanctions followed the release of a November 8 report from the International Atomic Energy Agency (IAEA), which details alleged Iranian clandestine research on Iranian nuclear warheads and their means of delivery. Nonetheless, Russian and Chinese opposition blocked the IAEA from requesting that the UN Security Council impose more multinational sanctions on Iran. Western governments have had to resort to applying supplementary but piecemeal sanctions without UN approval.
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