Friday, June 11, 2010

EU New Sanctions to Target Iran’s Oil Sector

The European Union is expected to impose its own set of sanctions on Iran beyond the measures approved by UNSC on Wednesday. AFP is reporting that the new EU sanctions would target Iran’s oil and gas industry with “prohibition of new investment, transfer of technologies, equipment and services” [AFP, 11 June].

The EU's "accompanying measures" to the UN sanctions will be discussed by European foreign ministers in Luxembourg on Monday then by the heads of state and government in Brussels on Thursday.


Anonymous said...

Not going to have much impact as China and Asian nations are the biggest customers and investors in Iranian oil and gas sector. As global demand goes up and oil shortages hit again soon with higher prices, these hypocritical Europeans will be first ones to line up for Iranian oil.

Anonymous said...

They are being squeezed out by the Asians.. and I mean that to be good.