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WASHINGTON - Additional U.S. sanctions on Iran are more significant for their timing than their immediate effect on Iran's economy, coming as the United States and its allies are arguing that Israel should hold off on any military strike on Iranian nuclear facilities to allow more time for sanctions to work.

The U.S. ordered tough new penalties Monday to give U.S. banks additional powers to freeze assets linked to the Iranian government and close loopholes that officials say Iran has used to move money despite earlier restrictions imposed by the U.S. and Europe.

Many Israeli officials believe that sanctions only give Iran time to move its nuclear program underground, out of reach of Israeli military strikes.

NEW YORK - Thousands of fans roared as New York Giants quarterback Eli Manning hoisted the team's Super Bowl trophy from a glittering blue-and-white float Tuesday during a victory parade along the Canyon of Heroes, where the city has honored stars for almost a century.

The parade set off from the southern tip of Manhattan and moved slowly north to City Hall as fans dressed head-to-toe in Giants gear cheered and confetti wafted slowly down from the high-rises that line the street.

The team will be honored with symbolic keys to the city at a City Hall Plaza ceremony.