As of immediately, the EU will not accept any Iranian oil, and by July 1 all contracts of an oil nature will be cancelled. Also, they will sanction some financial transactions with Iran Central Bank, mostly regarding oil revenues. These are the sanctions Iran said they will respond to, by blocking the Straits of Hormuz. Lets see if they put on their big boy pants and do what they said they would.
From Yahoo January 23 by Laura Rozen
From Yahoo January 23 by Laura Rozen
EU bans Iran oil imports
Is this what Iran wants to engage? Photo:Navy
The 27-member European Union voted Monday to ban imports of Iranian oil, and to sanction some transactions with Iran's Central Bank.
The action, passed at a foreign ministers' meeting in Brussels, immediately bars EU member states from signing any new oil contracts with Iran, and orders the phasing out of existing contracts by July 1. The EU-bloc previously constituted the second largest customer for Iranian oil after China.
"I hope Iran will respond positively and will come back to the negotiating table," European Union High Representative for Foreign Policy Catherine Ashton said in announcing the action.
But "given the EU's serious and deepening concerns over the Iranian nuclear programme, the Council today broadened the EU's restrictive measures against that country," the European Union said in an accompanying statement (.pdf).
U.S. Secretary of State Hillary Clinton and Treasury Secretary Tim Geithner welcomed the European action. The measures "are another strong step in the international effort to dramatically increase the pressure on Iran," they said in a joint statement Monday.
Clinton last week had urged Iran to respond to a proposal for new international talks on curbing its nuclear program, or face mounting pressure.
"We all are seeking clarity about the meaning behind Iran's public statements that they are willing to engage, but we have to see a seriousness and sincerity of purpose coming from them...
Which has never been forthcoming, except relating to Islamic hegemony.
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