U.S. and Its Allies Expand Sanctions Against Iran.

WASHINGTON -- Major Western powers took significant steps on Monday to cut Iran off from the international financial system, announcing coordinated sanctions aimed at its central bank and commercial banks. The measures, a response to a recent United Nations report warning about Iran's nuclear activities, tighten the vise on Iran but still fall short of a blanket cutoff. The United States also imposed sanctions on companies involved in Iran's nuclear industry, as well as on its petrochemical and oil industries, adding to existing measures that seek to weaken the Iranian government by depriving it of its ability to refine gasoline or invest in its petroleum industry. [ABSTRACT FROM AUTHOR]