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Foreign Affairs Minister Lawrence Cannon holds a press conference in Ottawa on Monday, July 26, 2010. (Sean Kilpatric / THE CANADIAN PRESS) Foreign Affairs Minister Lawrence Cannon announces new Canadian sanctions against Iran in Ottawa, Monday, July 26, 2010.

Canada, EU announce new sanctions against Iran

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CTV News Video

CTV News Channel: Lawrence Cannon in Ottawa
Canada's foreign affairs minister outlines another round of harsh sanctions against Iran aimed at curtailing its nuclear weapons program and tightening the financial screws on the Iranian regime.
CTV News Channel: Eric Margolis, security expert
An international security expert and foreign affairs analyst explains why Canada is imposing another round of sanctions against Iran and discusses whether Pakistan could be partnered with Iran after numerous U.S. war documents were leaked online.
CTV National News: Robert Fife in Ottawa
Canada is set to impose another round of sanctions against Iran. CTV News has learned the sanctions attempt to curtail Iran's nuclear weapons program by tightening the financial screws on the Iranian regime.

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Foreign Affairs Minister Lawrence Cannon holds a press conference in Ottawa on Monday, July 26, 2010. (Sean Kilpatric / THE CANADIAN PRESS) Foreign Affairs Minister Lawrence Cannon announces new Canadian sanctions against Iran in Ottawa, Monday, July 26, 2010.

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Foreign Affairs Minister Lawrence Cannon holds a press conference in Ottawa on Monday, July 26, 2010. (Sean Kilpatric / THE CANADIAN PRESS)

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Date: Mon. Jul. 26 2010 12:04 PM ET

Canada has imposed another round of tough sanctions against Iran, aimed at curbing the country's nuclear ambitions.

Foreign Affairs Minister Lawrence Cannon said "Iran's actions and aggressive statements are an affront to the efforts of Canada and like-minded countries to ensure peace and security worldwide."

Cannon said Iran's recent announcement that it had produced enriched uranium has brought the country "closer to nuclear weapons that threaten us all."

The new sanctions are not intended to punish the Iranian people, he said, but area aimed at "the aggressive and irresponsible government in Iran."

The sanctions will include a new ban of Canadian investment in Iran's oil and gas sector and restrictions of goods that could be used in nuclear programs.

Canada and its Western allies accuse Iran of seeking to develop nuclear weapons, but Tehran says its nuclear program is for peaceful power production.

The Canadian sanctions are similar to those imposed by the EU and the United States.

U.S. President Barack Obama approved a bill on Friday that cuts off Iran's access to refined petroleum imports, including gasoline and jet fuel and bans U.S. banks from doing business with foreign banks that provide services to the Revolutionary Guards.

The new U.S. and Canadian sanctions come on top of UN Security Council sanctions imposed in June.

However, a Canadian foreign affairs and security expert says the Canadian sanctions will do little to affect the Iranian regime.

"Canada really doesn't have much influence in the Middle East and particular in Iran," Eric Margolis told CTV News Channel Monday morning.

"This has much to do with Canadian domestic politics as it does with Iran."

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