President Barack Obama lauded an E.U. move to choke Iran’s oil exports Monday, January 23, amid evidence that sanctions are beginning to bite, Agence France-Presse reported. “I applaud today’s actions by our partners in the European Union,” Obama said. “These sanctions demonstrate once more the unity of the international community in addressing the serious threat presented by Iran’s nuclear program. We will continue to increase the pressure unless Iran acts to change course and comply with its international obligations.” The E.U. on Monday adopted its toughest measures on Iran with an immediate embargo on new oil contracts and a freeze of the country’s Central Bank assets. After the sanctions vote, British Prime Minister David Cameron, German Chancellor Angela Merkel and French President Nicolas Sarkozy issued a joint statement urging Iran to suspend its sensitive nuclear activities. “… the Iranian leadership has failed to restore international confidence in the exclusively peaceful nature of its nuclear program,” the statement said. “We will not accept Iran acquiring a nuclear weapon.” The Iranian rial tumbled to a record low against the dollar on Monday, as signs of economic difficulties in the country grow.
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