Oral question asked in the House of Lords, by Lord Wedderburn of Charlton (Labour). It was answered on Monday, 20 October 2008.

Iran: Uranium Enrichment

Question: My Lords, could my noble friend say a little more about the extreme success that financial sanctions could have if they were pressed upon this extraordinary Iranian regime? Will he give a little more detail on what further financial sanctions could be imposed?

Answer: My Lords, existing financial sanctions have limited Iran’s abilities to move funds abroad and have made its proliferation-sensitive activities a lot more difficult. They have also contributed to a political debate within Iran about the appropriateness of the Government’s course of action. A few months ago, the EU sanctioned and stopped the activities of Bank Melli; other financial institutions of Iran are suffering accordingly. Yes, I think there may still be occasion to strengthen that stranglehold further.

Secondary information