The government announced on Monday the resumption of economic sanctions against Iran, after the United Nations reimposed sanctions on the country over its nuclear development. Based on a U.N. Security Council resolution, the government designated the assets of 78 organizations and 43 individuals to be frozen. "The issue is now at a crossroads," Chief Cabinet Secretary Yoshimasa Hayashi told a news conference, underlining the importance of a diplomatic solution. Iran has strongly opposed the U.N. sanctions, including by suggesting that it would suspend cooperation with the International Atomic Energy Agency. "We will continue necessary diplomatic efforts while following the Security Council's decision," he emphasized.