World Powers Threaten Penalties for Iran

New Penalties now threaten Iran by the major world powers. They agreed to seek new sanctions against Iran over its nuclear program. Iran didn't respond to an offer aimed at getting it to halt nuclear activity. I feel their leader is a loose canon and we had better be very careful how we handle Iran. Monday, two days after the deadline expired, Iran announced it has tested a new weapon capable of sinking ships 200 miles away. This is not good. Tehran made threats to close a strategic waterway at the mouth of the Persian gulf if attacked. Did you know that up to 40 percent of the world's oil passes through the Strait of Hormuz. This is a narrow passage along Iran's southern coast.

Iran Faces New Sanctions Threat

Six world powers have agreed to draft a third resolution for sanctions against Iran over its nuclear program. The UN Security Council will vote on the draft if UN and EU reports say Tehran's program is continuing. Officials from the US, Russia, China, France, Britain and Germany will meet on Nov 19 to assess the reports.

Iran is Defiant at New US Sanctions

Iran has responded defiantly to new sanctions imposed by the US targeting Iran's Islamic Revolution Guards Corps and three state owned banks. The Iranian foreign ministry said the sanctions were doomed to failure. But US Secretary of State Condoleezza Rice says the measures are to confront the threatening behavior of the Iranians. Something had to be done since the insisted on continuing with their nuclear plans. I guess we will see in the future how it works out.