Obama extends US national emergency on Iran

President Barack Obama extended late on Monday the US national emergency with respect to Iran.\"Our relations with Iran have not yet returned to normal, and the process of implementing the agreements with Iran, dated January 19, 1981, is still under way\", said the White House in a statement.The national emergency with respect to Iran was declared in Executive Order 12170 by former President Jimmy Carter on November 14, 1979, and Obama\'s decision extended it for an additional year beyond November 14, 2011.This executive order was designed \"to deal with the unusual and extraordinary threat to the national security, foreign policy, and economy of the United States constituted by the situation in Iran.\" Issued in 1979 during the Iran hostage crisis, the order allowed the US government to freeze all Iranian assets held within the United States.The Obama administration is still seeking additional sanctions on Iran in an effort to persuade Tehran to give up its nuclear ambitions.