NICOSIA - Iran on Tuesday urged the European Union to reconsider an embargo on Iranian oil that comes into effect on July 1, saying it wanted engagement and not confrontation with the bloc.

EU governments on Monday formally approved the embargo, dismissing calls by debt-ridden Greece for exemptions to help ease its economic crisis.

"We hope that the European Union looks into the matter with more rationality and wisdom because I think nobody benefits from confrontation," Iranian Foreign Minister Ali Akbar Salehi told journalists in Cyprus.

"The benefit lies in engagement, and I think they are on the wrong track."

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