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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Africa Europe Latin America Middle East North America Search Search: Iran says U.S. sanctions will not halt nuclear work Reuters - Tuesday, May 5 TEHRAN - Iran will not suspend its disputed nuclear programme even if the United States imposes sanctions targeting companies that ship fuel to the Islamic Republic, a Foreign Ministry spokesman said on Monday. ADVERTISEMENT Twenty-five U.S. senators from both parties have proposed giving President Barack Obama new leverage in the dispute over Tehran's nuclear ambitions. The bill gives Obama the authority to sanction companies supplying petrol to Iran. The United States and its Western allies suspect Iran is aiming to develop nuclear bombs under the cover of a civilian programme and want it to halt sensitive uranium enrichment. Iran rejects the allegation and says it will not bow to pressure. "We can cope with such measures . Sanctions and threats will not stop Iran from continuing its nuclear work," Foreign Ministry spokesman Hassan Qashqavi told a weekly news conference. Iran is the world's fourth-largest oil exporter but lacks refining capacity to meet domestic demand and so relies heavily on international imports to guarantee fuel at the pumps. Washington has threatened "crippling" sanctions against Iran if it did not end its sensitive nuclear activities. During his 2008 presidential campaign Obama expressed interest in using Iran's dependence on imports of refined petroleum products as leverage in the nuclear standoff. But U.S. lawmakers say that under current law his powers to do so are limited. Under the bill, a foreign oil company found to be in violation would be prevented from owning retail petrol stations in the United States or delivering crude oil to the U.S. Strategic Petroleum Reserve. Similar legislation has been introduced in the House of Representatives and the Senate. Though Iran holds some of the world's biggest crude oil reserves, it imports 40 percent of its gasoline to meet growing domestic demand. Expensive government subsidies help keep gasoline in Iran much cheaper than elsewhere. Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: World Mexico to allow most business to reopenAP - 1 hour 36 minutes ago AP Analysis: Empty neighborhoods fill Rust BeltAP - 1 hour 37 minutes ago Spanish judge to probe deadly Israeli raid on GazaAFP - 1 hour 44 minutes ago Iraq: No extension of US pullback date from citiesAP - 1 hour 44 minutes ago Gunmen abduct 3-year-old boy from SoCal homeAP - 1 hour 46 minutes ago Most Popular – World Viewed GM could follow Chrysler into bankruptcy: analysts Swine flu in decline: Mexico Kenyan women to sex-starve men -- for politics Citigroup may need $10 bln more: report Father rejects Madonna's adoption bid: report View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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