BREAKING NEWS

EU adopts 'comprehensive' new sanctions against Iran

By ASSOCIATED PRESS

JULY 26, 2010 16:35

The European Union formally adopted new energy sanctions against Iran Monday which target the country's energy, banking, and foreign trade sectors.

The move, which was agreed to in principle by EU leaders in June, is the latest in a series of measures taken by the international community in an effort to halt Iran's nuclear program.

EU foreign ministers adopted a decision "on a package of restrictive measures" in the areas of trade, financial services, energy and transport, said a diplomat who spoke on condition of anonymity under standing rules.

The new measures will come into force in the next few weeks, after they are published in the bloc's official gazette, officials said.

"We have a comprehensive set of sanctions. This is something where we have all 27 countries working together," EU foreign policy chief Catherine Ashton said ahead of the meeting.

According to the decision reached in June, the sanctions will target dual-use items that could be used as part of a nuclear program, and Iran's oil and gas industry — including the "prohibition of new investment, technical assistance and transfers of technologies."

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