US Secretary Of State Condoleezza Rice: “Today Secretary Paulson and I are announcing several new steps to increase the costs to Iran of its irresponsible behavior. Many of the Iranian regimes’ most destabilizing policies are carried out by two of its agencies: the Islamic Revolutionary Guard Corps, or the IRGC, and the Quds Force, an arm of the IRGC. Because of the Revolutionary Guard’s support for proliferation and because of the Quds Force support for terrorism, acting under U.S. law and consistent with our international obligations, the United States today is designating both of these groups. We are similarly designating three Iranian state-owned banks: Bank Melli and Mellat, for their involvement in proliferation activities, and Bank Saderat as a terrorist financier. We are also designating several additional Iranian individuals and organizations.

What this means is that no U.S. citizen or private organization will be allowed to engage in financial transactions with these persons and entities. In addition, any assets that these designees have under U.S. jurisdiction will be immediately frozen. These actions will help to protect the international financial system from the illicit activities of the Iranian Government and they will provide a powerful deterrent to every international bank and company that thinks of doing business with the Iranian Government.

I want to repeat, the United States and our partners are fully committed to a diplomatic solution with Iran. If the Iranian Government fulfills its international obligation to suspend its uranium enrichment and reprocessing activities, I will join my British, French, Russian, Chinese, and German colleagues and I will meet with my Iranian counterpart anytime, anywhere. We will be open to the discussion of any issue. But if Iran’s rulers choose to continue down a path of confrontation, the United States will act with the international community to resist these threats of the Iranian regime.”

(Source: US State Department)