Republican presidential candidate Mitt Romney says while "military options" should be on the table to respond to the threat of Iran becoming a nuclear power, going to war with Iran should be a "last resort." This past week, the Bush Administration slapped new sanctions on more than 20 Iranian companies, banks and individuals. Romney applauds the move.

"As a result of our strength, I think we have a good prospect of the Iranian people listening to us and understanding that those sanctions…will help, I believe, help move Iran to recognize that the course they’re on is perilous and wrong," Romney says. Romney describes the new set of sanctions as "very tough" and he is calling upon states and individuals in the U.S. to dump investments in companies that are doing business with Iran.

"And of course, in particular, we need to get other nations to join us in putting in place tough economic and diplomatic sanctions on Iran and that includes China," he says. Romney says he "hopes" the U.S. and Iran are not headed toward war. "We don’t want to be in another conflict. We don’t want our men and women in harm’s war," Romney says. "That’s the last thing this nation wants."

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