There will be new penalties for financial institutions that deal in Iranian currency, which should cause the rial to devalue further. But new sanctions on the country's car industry could be felt more acutely.
North Korea defies international sanctions to launch a rocket. Japan has called for an emergency meeting of the UN Security Council, which could take place later today.
As the European Union prepares to impose a ban on natural gas imports from Iran, the country's currency has already fallen sharply because of international sanctions.
At the UN today, the Security Council is expected to vote today on economic sanctions against Syria, in an effort to help end the 16 month conflict between the government of Bashar Al-Assad and rebel forces. But will more economic sanctions work?
Iranian oil producers may find other ways to sell their product, but with few options to insure their ships, a lot of oil will be sitting in the harbor.