Today, Prime Minister Stephen Harper announced that Canada is placing new sanctions against Iran under the Special Economic Measures Act. These measures took effect July 22, 2010.
Canada is taking action to pressure Iran to suspend its nuclear enrichment program, cooperate with the International Atomic Energy Agency and to return to negotiations with the United Nation’s Security Council.
Iran has continued to ignore its international legal obligations. According to the IAEA, Iran currently has enough nuclear material to create two nuclear weapons if the uranium were further enriched.
Iran’s reckless actions are unacceptable. Canada’s sanctions are targeted to hamper attempts by Iran to develop its nuclear, chemical, and biological missile programs and they will send a message to all states-particularly those with nuclear aspirations- that international standards cannot be flouted without consequence.
These sanctions bar: any dealings in trade, property or goods between Canada and designated individuals and agencies in Iran; the export of arms and related material not already banned to Iran from Canada; and suspending any new Canadian investment into Iran’s oil and gas industry. They also prohibit Iranian financial institutions from establishing a presence in Canada and vice versa.
The sanctions are in no way intended to punish the Iranian people. Travel, family remittances and export trade within the established regulations and humanitarian aid including food and pharmaceuticals will continue to be permitted between Canada and Iran.
Our Conservative Government is standing with our allies around the world. We strongly urge Iran to address serious concerns about the military dimensions of its nuclear program and meet its international nuclear obligations.