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Source: http://edition.cnn.com/2009/POLITICS/10/06/us.iran.sanctions/
U.S. Plans "Serious" Sanctions If Iran Diplomacy Fails
[CNN] Elise Labott - The Obama administration is working on a substantial sanctions package against Iran in case current diplomatic efforts to curb its nuclear program fail, top officials told Congress on Tuesday. Deputy Secretary of State James Steinberg said one reason for the Obama administration's engagement toward Iran was to secure international support for sanctions if Iran continued to defy international demands. "By the end of the month, we will have some very clear indications of what their intentions are," he said. Senate Banking Committee Chairman Christopher Dodd (D-Conn.) said he planned to move forward this month on a proposal to expand financial restrictions, impose new sanctions on Iran's oil and gas sectors, and ban both the export of refined gasoline products to Iran and the import of Iranian goods.