Iran to be hammered with oil sanctions
The European Union will hit Iran with tough sanctions against its vital oil and gas industry on Monday.
BRUSSELS:
The European Union will hit Iran with tough sanctions against its vital oil and gas industry on Monday in a bid to lure Tehran back to the negotiating table over its disputed nuclear programme.
EU foreign ministers will formally approve the sanctions following Iran’s repeated refusals to halt sensitive nuclear activities, which the West fears are aimed at building a bomb.
The sanctions are part of a twin-track approach with EU foreign affairs chief Catherine Ashton seeking to revive moribund talks between Iran and six world powers – the US, Britain, France, Germany, Russia and China.
“This (package of sanctions) is about applying pressure, but applying pressure in order to bring the Iranians to the table to talk,” a European diplomat said.
The new EU sanctions include a ban on the sale of equipment, technology and services to Iran’s energy sector, hitting activities in refining, liquified natural gas, exploration and production, diplomats said.
Published in The Express Tribune, July 26th, 2010.
The European Union will hit Iran with tough sanctions against its vital oil and gas industry on Monday in a bid to lure Tehran back to the negotiating table over its disputed nuclear programme.
EU foreign ministers will formally approve the sanctions following Iran’s repeated refusals to halt sensitive nuclear activities, which the West fears are aimed at building a bomb.
The sanctions are part of a twin-track approach with EU foreign affairs chief Catherine Ashton seeking to revive moribund talks between Iran and six world powers – the US, Britain, France, Germany, Russia and China.
“This (package of sanctions) is about applying pressure, but applying pressure in order to bring the Iranians to the table to talk,” a European diplomat said.
The new EU sanctions include a ban on the sale of equipment, technology and services to Iran’s energy sector, hitting activities in refining, liquified natural gas, exploration and production, diplomats said.
Published in The Express Tribune, July 26th, 2010.