EU agrees to tough sanctions against Iran

LUXEMBOURG: European Union foreign ministers adopted yesterday tough new financial and trade sanctions against Iran.
The new package of sanctions targets EU dealings with Iran’s banks, as well as trade and gas imports. Details on those targeted will be released today but a government minister is on the new blacklist, diplomats said.
The sanctions in particular target Iran’s nuclear and ballistic program, aiming to choke off any government revenues being funneled into these.
EU foreign policy chief Catherine Ashton earlier said it was “very, very important that Iran is sent a very strong signal from this European Union foreign affairs council that we want to see a negotiated agreement.”
Previous sanctions, in particular a biting oil embargo that came into effect in July, are “quite clearly having an effect,” she told reporters.
Ashton, who represents global powers in talks with Iran on its nuclear program, said the sanctions aimed “to persuade Iran to come to the table.”
Under the package, the EU bans all transactions between European and Iranian banks unless authorized in advance by national authorities, for example for humanitarian or medical reasons.
Imports of Iranian gas will be prohibited, a symbolic gesture since the amounts involved are small, but the move sits alongside a much more significant ban on imports of Iranian oil introduced in July.
Sales of graphite and metals of potential use to Iran’s nuclear or ballistic missile programs are also to be closed down, while other measures target Iran’s shipping industry.
The package also bans the use of EU vessels for transporting or storing Iranian oil.