Bob Carr (NSW, Australian Labor Party, Minister for Foreign Affairs) Share this | Hansard source

(—) (): Mr President, on 22 August I announced Australia's implementation of new sanctions against Iran. They prohibit trade and investment in the country's oil, gas and petrochemical sectors, prohibit cooperation with Iranian financial institutions and prohibit trade with Iranian government entities in gold, precious metals and diamonds. This expands on Australia's earlier measures, including travel and financial restrictions against 44 individuals and 229 entities, and in addition to stringent international sanctions that Australia and all the United Nations Security Council members were first obliged to impose in December 2006. Australia's sanctions aim to pressure Iran and deny it a key source of funding for proliferation sensitive nuclear and missile programs. Sanctions are having a direct impact on Iran, resulting in fluctuations in its exchange rate, difficulty in carrying out its financial transactions and withdrawing international investment. (Time expired)