New sanctions won’t affect Iran’s day-to-day economy

The UN Security Council on Wednesday approved new sanctions against Iran over its suspect nuclear program. The Resolution 1929 passed 12-2 with Brazil and Turkey voting against the measures and Lebanon abstaining. 

U.S. President Barack Obama said the resolution puts in place "the toughest sanctions ever faced by the Iranian government, and it sends an unmistakable message about the international community's commitment to stopping the spread of nuclear weapons."

The sanctions tighten measures previously taken against 40 individuals, putting them under a travel ban and asset freeze; one name was added to the blacklist -- Javad Rahiqi, 56, the head of the Isfahan Nuclear Technology Center.

The sanctions require countries to inspect ships or planes headed to or from Iran if they suspect banned cargo is aboard, but there is no authorization to board ships by force at sea. Another aspect of the sanctions bars all countries from allowing Iran to invest in their nuclear enrichment plants, uranium mines and other nuclear-related technology, and sets up a new committee to monitor enforcement.

However, the sanctions will not affect Iran’s day-to-day economy as China and Russia were adamant amending the Resolution. China and Russia have strong economic ties with Iran and last week Russia's Foreign Minister Sergei Lavrov was quoted as saying in Beijing that the resolution would protect the economic interests of both countries.