Joint Statement by Secretary Tim Geithner and Secretary Hillary Clinton on European and Canadian Iran Sanctions

July 26, 2010

WASHINGTON - The U.S. Departments of Treasury and State today released the following statement from Secretary Tim Geithner and Secretary Hillary Clinton on the European Union and Canada's adoption of new sanctions against Iran:

"The United States welcomes the strong steps taken by our European and Canadian partners to implement UN Security Council Resolution 1929. Consistent with the Security Council's mandate, these measures impose additional sanctions against Iran's financial, insurance, transportation, trade and energy sectors, as well as the Islamic Revolutionary Guards Corps, significantly increasing Iran's isolation. These steps underscore the steadfast European and Canadian leadership to hold Iran accountable for its failure to meet its international obligations and set a high standard for global implementation of sanctions.

"The new measures contain important restrictions on Iran's ability to use its transportation infrastructure and energy proceeds to support its nuclear and missile programs. The strong restrictions and prohibitions on Iran's ability to access the Canadian and European commercial and banking systems will further protect the international financial system from abuse by Iran.

"These measures, combined with the new and existing U.S. sanctions, underscore the international community's deepening concerns about Iran's nuclear program and refusal to live up to its international responsibilities. We have already begun to see the impact of these sanctions, as companies around the world refuse to do business with Iran rather than risk becoming involved in Iran's nuclear program and other illicit activities.

"Moving forward, the United States will continue to work with the European Union, Canada, and our allies and partners around the world to put additional pressure on Iran and ensure that existing sanctions are vigorously enforced. The message to Iran's leaders is clear: Meet your responsibilities or face increasing isolation and consequences.

"We applaud the EU and Canada for these decisive actions, but regret their necessity. The United States remains committed to a diplomatic solution that resolves the international community's concerns regarding Iran's nuclear program. We will continue to work with the European Union, Canada, the P5+1 and all of our partners to pursue our dual track approach of engagement and pressure to achieve this objective and await Iran's official reply to the P5+1's outstanding offer of talks. We once again urge Iran's leaders to pursue a path of cooperation and responsibility rather than confrontation and further isolation."