The construction of the Bushehr nuclear power plant in Iran will not be affected by the new UN sanctions against the Islamic Republic, a Foreign Ministry spokesperson said on Friday. The U.N. Security Council approved on June 9 a new package of economic sanctions against Iran over its nuclear program including tougher financial controls and an expanded arms embargo. They also included an asset and a travel freeze on more than three dozen companies and individuals. "The sanctions will not affect the construction of Bushehr nuclear power plant," the spokesperson said. The construction of Iran's first nuclear power plant began in 1975 by German companies. However, the firms stopped work after a U.S. embargo was imposed on high-technology supplies to Iran following the 1979 Islamic Revolution and the subsequent U.S. Embassy siege in Tehran. Russia signed a contract with Iran in February 1998 to complete the plant. The planned sale of Russian S-300 air defense systems fell under the sanctions, which means Russia will not sell the weaponry to Iran. The S-300 contract is worth some $800 million, while Russian officials estimate the forfeit penalty for the S-300 contract at $400 million.