Monday, June 14, 2010

EU Foreign Ministers Approve Iran Sanctions

The European Union today approved "accompanying measures" to the UN sanctions against Iran. The EU foreign ministers had met in Brussels to discuss Iran’s nuclear program. Before approving the new sanctions, the foreign ministers heard from Saeed Jalili, Iran’s top nuclear negotiator, who argued Iran’s case.

The new sanctions include further restrictions on trade insurance and financial transactions, and target Iran's transport sector particularly its shipping and air cargo operators. Investments in Iran’s oil industry would also be affected.

"Some (European) companies ask what does that mean for their business, but what would nuclear bombs in the hands of Iran cost us," Germany’s Westerwelle asked. "We have to contribute our own European measures in addition to the Security Council sanctions to press Iran back to the negotiation table,” he added [AFP, 14 June].

EU heads of government would need to approve the new sanctions on Thursday during their meeting in Luxemburg before they go into effect.

Meanwhile in Tehran, the all-powerful IRGC said it was “not worried” by new sanctions against Iran.


Anonymous said...

i have seen iran section alwayes opposit effect for eu union and usa , the west so much trying to insulate iran in respond of section ,iran used as opportunity to get ahead in ecconomy and industrail sectore it is effectively more powerful than ever and gain the ground than main point is the rest of world would follow iran direction soon the section iran become reality the ecconomy of west somehow in big crises that i could not understand why it come from dispite of know the ecconomy problem but it is not always that some strong fenamanan could be their that logic may not make sence to explain that and every day pass this nation become more stronger ever without west and more country follow the food step of iran that is the nation of success in powerful political no other nation ever close to it , i am giving them strong gridet to be succesful of the road facing it this road long way is ahead off pass but eventuly not far away will be successfull.

Anonymous said...

Even going by CIA country analysis 2009 (they mostly get everything wrong or put a spin like WMD lol), Iran has the 16th largest economy in the world and global trade of over $150 billion, so with over a dozen porous borders, and over $100billion in FOREX reserves,and another $70 billion in sanctions busting contingency fund, I doubt it if these useless sanctions will make one iota of difference in Iranian government policies.

Cuba with 8 million people, with no resources and barely 60 miles from Florida has been under air-tight sanctions since 1959 and the Castro brothers just changed chairs.

In the new Asia centric world with increasing Iran-Turkey integration, I think these idiotic sanctions are beyond a joke.

Anonymous said...

Recently the German Chamber of Commerce said that at least 200,000 employees of companies doing business with Iran will suffer unemployment or part-time for the duration of these sanctions. All this as hardship in Germany grows. Man them Hasbara just do not give up!

Anonymous said...

You are correct. The Zionists are ruining the declining US and Euro economies with these idiotic sanctions. Last month, Boeing Aircraft announced that since 1979it has lost over $ 25 billion worth of business with Iran in terms of new aircraft replacement and spares for the existing fleet of Iran Air. Iran still has the third largest fleet of commercial airliners in the Middle-East with over 200 civilian passenger aircraft (after Emirates and Saudia). Recently, despite US sanctions and total ban on sales of spares, Iran has been able to completely overhaul and refurbished even the Boeing 747-SP dating back to 1974 at its Mehrabad Iranian Aviation Industries complex.

Iran's Civil Aviation Organization (CAO) has declared that the number of its passenger plane fleet has increased to 200, an official says.

Chicago-based Boeing, the world’s second-largest commercial plane maker after Euro-Airbus SAS, wants to strip out a provision banning U.S. companies from being aided by foreign export-credit agencies that also guarantee exports to Iran.

Boeing Co. and Exxon Mobil Corp. are lobbying to fend off tightened sanctions against Iran that business groups say may cost over $25 billion in U.S. exports at a time when global aviation industry is in a slump and both US and Europe face double digit unemployment.

Legislation before Congress would expand a 1996 law penalizing foreign companies that invest in that country’s oil industry. U.S. firms, already barred from investing there, say their sales worldwide could be hurt by provisions that ban doing business with companies in Europe, Russia or China that trade with Iran.

“We are up on Capitol Hill talking about the collateral damage,”

William Reinsch, president of the National Foreign Trade Council, a Washington-based group that represents Exxon and Boeing, said in an interview. “There is legitimate, non-Iran business that will be cut off.”