Swiss Tightens Financial Squeeze on Iran

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The Swiss government will impose tough new financial sanctions against Iran by freezing the assets of 11 more companies and individuals.

Officials hope the added pressure will force Iran to comply with United Nations guidelines regarding the country's controversial nuclear program.

Western nations fear Iran is preparing to make nuclear weapons because. The country has several nuclear sites and has increased production of enriched uranium at 20 percent.

Swiss cabinet members say the move now "brings Switzerland largely in line with the restrictive measures" adopted by the European Union earlier this January.

Banks in Switzerland have been accused of allowing people and firms close to the Iranian government to conduct business through Swiss accounts.

Iran has threatened to retaliate against the sanctions by closing the Strait of Hormuz. The water way allows passage to a fifth of the world's crude supply.

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