Russia and China balk at proposed ban on Iran

United Nations: Major powers are considering proposals for sanctions on Iran's nuclear ambitions that include penalties against Tehran's Revolutionary Guards as well as the Tehran's state-owned Bank Sepah.

But in a working paper of provisions for a second UN Security Council sanctions resolution, seen by Reuters on Thursday, Russia and China raised objections to many of the measures. One key element they agreed to was an arms embargo on any weapons Iran would be allowed to export.

The document was dated March 3 but many of the sticking points have yet to be resolved, said diplomats speaking on condition of anonymity. No date has been set for a vote in the 15-member council, and a draft resolution is not expected until next week at the earliest.

"There is no resolution to address yet," Alejandro Wolff, US ambassador told reporters. "We were just taking stock on where were."

The new resolution is a follow-up to one adopted by the Security Council on December 23 last year that imposed trade sanctions on sensitive nuclear materials and technology and froze assets of key Iranian individuals and businesses.

Weapons trade

The new proposals include a mandatory travel ban, financial and trade restrictions and an expanded list of Iranian officials and firms whose assets would be frozen, such as companies controlled by Iran's Revolutionary Guards as well as Iran's state-owned Bank Sepah.

The proposals would ban Iranian weapons exports but leave intact Tehran's ability to import. The December resolution had restricted trade in sensitive materials for nuclear weapons and ballistic missiles.

Russia and China did not object to the proposed arms export ban but raised reservations on a related provision that would allow nations to take "cooperative action" to prevent weapons trafficking.

Another proposed provision would ban new commitments by countries for grants, loans and credits to Iran. Russia and China want this made voluntary.

The two countries also object to a call for international financial institutions to withhold funds from Iran as well as a proposal asking countries to "exercise vigilance and restraint" in providing financial support, including insuring companies trading with Tehran.