Undersecretary of State Burns said the U.S. isn't putting all of its eggs in the U.N. basket and will now try to persuade Japan, the European Union and others to take tougher action and encourage banks to cut off lending to Iran.
"China is an important market, but Brazil shouldn't be putting all its eggs in one basket, " says Rubens Ricupero, a former Brazilian finance minister and former head of the U.N.