Medvedev bans Iranian investments in Russia's nuclear industry

Russian President Dmitry Medvedev has signed a decree that prohibits any Iranian investment in Russia's nuclear industry, reports MIGnews.

The ban refers to the investments related to the enrichment of uranium, as well as to the ballistic missile building projects.

It comes after 4 major energy companies - Royal Dutch Shell, Total, Statoil and Italy ENI - said they are pulling out of Iran in order to comply with US sanctions.

Recent US legislation gives the US administration the power to penalize foreign companies which invest more than $20m in Iran's energy sector.

However, companies taking steps to comply with the law are exempted from penalties.

Washington recently froze the US assets of eight senior Iranian officials accused of serious human rights abuses following the disputed presidential election in June 2009.

They are also barred from travelling to the US and from doing business with companies there.

The US has tightened sanctions on Iran over concerns about its nuclear ambitions, which Washington fears are aimed at acquiring atomic weapons.

Tehran insists its nuclear program is for purely peaceful purposes.