The British sanctions underline `` the severity of the government 's concerns about Iran 's activities , '' the statement issued by Britain 's chancellor of the exchequer said . British companies must end all banking ties to Iran by Monday afternoon . The move follows a report in the Financial Times that said banks had been told they could no longer do business with Iranian banks. The IAEA raises `` deep and increasing concern '' regarding the Iran 's nuclear program . Iran calls U.N. watchdog 's report `` unbalanced '' and `` politically motivated ''
British companies must end all banking ties to Iran by Monday afternoon . The move follows a report in the Financial Times that said banks had been told they could no longer do business with Iranian banks. The IAEA raises `` deep and increasing concern '' regarding the Iran 's nuclear program . Iran calls U.N. watchdog 's report `` unbalanced '' and `` politically motivated ''