Earlier, administration sources said the president had ordered that
sanctions on Iran and Syria no longer be enforced.
"Although the Obama administration is reviewing its policy towards Iran, not extending the sanctions would have constituted a major break with the past," said BBC state department correspondent Kim Ghattas in Washington. The formal renewal of the sanctions was not a surprise, but the failure to renew them would have been.
The question now is whether or not the sanctions will be enforced.
"The actions and policies of the Government of Iran are contrary to the
interests of the United States in the region and pose a continuing unusual
and extraordinary threat to the national security, foreign policy, and
economy of the United States," Obama said on March 11.
"For these reasons, I
have determined that it is necessary to continue the national emergency
declared with respect to Iran and maintain in force comprehensive sanctions
against Iran to respond to this threat."
However U.S. allies are already proceeding on the assumption that the sanctions will eventually be lifted.
Obama was said to have ordered a suspension on all sanctions on Iran and
Syria in his first days in office. Officials said NATO allies and Israel
have been informed of the abandonment of the sanctions policy. At the same
time, the administration has pledged to maintain its sanctions regime on
Cuba.
Cohen replaced outgoing Treasury Undersecretary Stuart Levey, appointed
in 2004 and who drafted the U.S. sanctions policy on Iran and Syria. Cohen
was an attorney at the Treasury Department under the then-administration of
President Clinton, and in 2001 went into private practice.
On March 8, Obama also named Alan Krueger as assistant secretary for
economic policy. Kim Wallace was appointed assistant secretary for
legislative affairs.
Officials said Cohen, Krueger and Wallace entered the Obama
administration as soon as the president took office in January 2009. They
said the three, who require confirmation by the Senate, had been serving as
advisers to Treasury Secretary Timothy Geithner.
"With the leadership of these accomplished individuals and our whole
economic team, I am absolutely confident that we will turn around this
economy and seize this opportunity to secure a more prosperous future,"
Obama said in a statement.
