European Union adopts oil embargo against Iran

European Union adopts oil embargo against Iran
Monday, January 23, 2012 - 9:48am

The European Union formally adopted an oil embargo against Iran monday. The E.U. also approved a measure to freeze the assets of the Iranian Central Bank.

The moves are all part of sanctions meant to pressure the country to resume talks on its nuclear program. Diplomats say the measures include an immediate embargo on new contracts for crude oil and petroleum products, while existing contracts will be allowed to run until July.

Comments News Comments

Post new Comment