Nuclear Program

Nuclear Program: New Sanctions Imposed by the West
Iran and the West have been at odds over its nuclear program for years. But the dispute has picked up steam since November 2011, with new findings by international inspectors, tougher sanctions by the United States and Europe against Iran’s oil exports, threats by Iran to shut the Strait of Hormuz to oil shipments and Israel signaling increasing readiness to attack Iran’s nuclear facilities.
In the summer of 2012, after years of attempting to halt Iran’s nuclear program with diplomacy, sanctions and sabotage, the Obama administration and its allies imposed sweeping new sanctions meant to cut Iran off from the global oil market.
First, in late June, the United States imposed sanctions that could punish any foreign country that buys Iranian oil. However, it issued six-month exemptions to 20 importers of Iranian oil who have significantly cut their purchases, including China, which has openly opposed the pressure on Iran.
Then, on July 1, the European Union put in place a complete embargo of oil imports from Iran, which was the Continent’s sixth-biggest supplier of crude in 2011.
On July 30, House and Senate negotiators in Washington reached an agreement on a new round of sanctions that would crack down on energy, shipping and insurance sectors.
Iran responded to the new sanctions with a series of defiant steps, announcing legislation intended to disrupt traffic in the Strait of Hormuz and testing missiles in a desert drill clearly intended as a warning to Israel and the United States. At the same time, the United States was completing a significant military buildup in the Persian Gulf meant to give it greater ability to keep the strait open — but at the risk of a clash with Iran’s Revolutionary  Guards.
Even before these steps, Iran conceded that its oil exports were down 20 to 30 percent. Its currency has plunged more than 40 percent against the dollar since 2011. But so far the escalating sanctions, which the Bush administration started and the Obama administration has intensified, have failed in their central goal of forcing Iran’s mullahs to stop enriching uranium.