Sydney - Australia on Wednesday placed further sanctions on Iran but dropped plans to hold President Mahmoud Ahmadinejad to account for his anti-Semitic pronouncements.

Foreign Minister Stephen Smith said Canberra was "deeply concerned" at Iran's refusal to suspend uranium enrichment and other activities as required by multiple UN Security Council resolutions.

Australia has repeatedly urged Iran to cooperate with inspections by the International Atomic Energy Agency (IAEA) to show it is only using uranium for peaceful purposes.

Smith announced financial sanctions on individuals and organizations deemed essential Iran's nuclear and missile programmes.

"The sanctions are targeted against 20 Iranian individuals and 18 organizations which contribute to Iran's nuclear and missile programs, or otherwise assist Iran to violate its Security Council obligations," Smith said. "To this end, Australia will not provide new financial support for trade with Iran under Australia's trade promotion and trade finance programs."

Opposition foreign affairs spokeswoman Helen Coonan noted Labor's decision to drop plans for international judicial action against Ahmadinejad.

"I urge the Rudd Labor government to remain vigilant in strongly condemning and standing up against abhorrent anti-Semitic comments whenever they are made," she said. (dpa)