European Union approves new sanctions against Iran

July 26th, 2010 - 10:06 pm ICT by BNO News  

BRUSSELS (BNO NEWS) – The European Union (EU) on Monday approved sanctions against Iranian foreign trade, financial services, oil and gas industry due to the increasing concern about its nuclear program.

The EU Foreign Ministers met on Monday and welcomed the adoption of the United Nations (UN) Security Council Resolution 1929 regarding new restrictive measures against Iran’s development of sensitive technologies in support of its nuclear and missile programs.

On June 17, the EU provided the most far-reaching package of measures in the areas of trade, financial services, energy, transport, visa ban and asset freeze. The sanctions targeted in particular Iranian banks, the Islamic Revolutionary Guard Corps (IRGC) and the Islamic Republic of Iran Shipping Lines (IRISL).

On Sunday, Iranian President Mahmoud Ahmadinejad warned the EU of joining the U.S. sanctions against Iran. He said that any cooperation will be regarded as hostile. Ahmadinejad said that any action against his country will be met with quick responses from the Asian nation.

The EU reaffirmed its commitment to work for a diplomatic solution of the Iranian nuclear issue. The European body also requested Iran to agree on a concrete date for meeting with the EU High Representative and with the six countries.

The European Council expects to achieve a comprehensive and long-term settlement to rebuild international confidence in Iran’s nuclear program at the same time of respecting Iran’s rights to the peaceful uses of nuclear energy under the Non-Proliferation Treaty.

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