The United States announced new sanctions on Iran Thursday, targeting an elite military unit and banks suspected of supporting terrorism and the development of nuclear weapons in the latest move by the Bush administration to isolate the Islamic state, reported the DPA. The sanctions cut the Islamic Revolutionary Guard Corps, three banks and other entities off from the US financial system and could expose foreign financial institutions to sanctions if they continue doing business with the Iranian banks. US Secretary of State Condoleezza Rice, announcing the sanctions with Treasury Secretary Henry Paulson, accused Iran of pursuing technologies that can lead to a nuclear weapon, building dangerous ballistic missiles, and supporting terrorism in Afghanistan, Iraq, Lebanon and the Palestinian territories. "The Iranian government continues to spurn our offer of open negotiations, instead threatening peace and security," Rice said. The sanctions also designated the Revolutionary Guard Corps (IRGC) and its Quds force as terrorist organizations and weapons proliferators.
