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Russia blasts latest sanctions against Iran nuclear program

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• A daily summary of global reports on security issues.

Iran and Russia slammed Western leaders after an announcement Monday that the US, Britain, Canada, and France were ratcheting up their sanctions on Tehran.

The US announced new sanctions on Iran's oil and petrochemical industries and any against companies involved with nuclear procurement and enrichment. While stopping short of leveling sanctions on Iran's central bank, which serves as a clearinghouse for nearly all oil and gas payments in Iran, it sent a strong warning by declaring the country's banking system a center for money laundering, The Christian Science Monitor reports. If sanctions were to be placed on the central bank, it would force Iran's trade partners to choose between doing business with the Islamic Republic or the US.

French President Nicolas Sarkozy recommended to all world leaders that they freeze the assets of Iran's central bank, the Monitor reports. Britain and Canada cut ties completely with Iranian banks.

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