EU adopts sanctions to stall Iran nuclear plans
Source: Agencies |
June 18, 2010, Friday
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Print Edition
Print Edition
EUROPEAN Union leaders yesterday adopted a new set of sanctions against Iran in a further effort to stall its disputed nuclear program.
The restrictions, which come on top of sanctions already imposed by the UN Security Council, were approved during a summit focused primarily on economic issues, spokeswoman Maja Kocijancic said.
A statement said the sanctions target dual-use items that could be used as part of a nuclear program and Iran's oil and gas industry - including the "prohibition of new investment, technical assistance and transfers of technologies."
Iran's shipping and air cargo companies will be banned from operating in EU territory, and new visa bans and asset freezes will be imposed on Iran's Revolutionary Guard. The sanctions also encompass trade insurance and financial transactions.
The measures are meant to strengthen other embargoes imposed by the EU in response to past UN Security Council resolutions. Last week, the council adopted its own sanctions after Iran rebuffed a plan to suspend uranium enrichment and swap its stockpiles of low-enriched uranium for fuel rods.
They are also in line with measures adopted by the Obama administration, which imposed penalties on Wednesday against individuals and institutions it says are helping Iran develop its nuclear and missile programs and evade international sanctions.
British Prime Minister David Cameron said yesterday that Europe needed to play a full role in the international effort to deal with Iran's nuclear program.
This means "making sure that we have a strong package of sanctions against Iran," he said. "We believe it is incredibly important."
The new EU sanctions will now be passed on to government technical experts to work out the specifics of which companies and products would be targeted, and how. This could be tricky, given the different economic interests of EU countries.
Officials predicted the procedure would last a month before the final list is endorsed by EU foreign ministers.
The restrictions, which come on top of sanctions already imposed by the UN Security Council, were approved during a summit focused primarily on economic issues, spokeswoman Maja Kocijancic said.
A statement said the sanctions target dual-use items that could be used as part of a nuclear program and Iran's oil and gas industry - including the "prohibition of new investment, technical assistance and transfers of technologies."
Iran's shipping and air cargo companies will be banned from operating in EU territory, and new visa bans and asset freezes will be imposed on Iran's Revolutionary Guard. The sanctions also encompass trade insurance and financial transactions.
The measures are meant to strengthen other embargoes imposed by the EU in response to past UN Security Council resolutions. Last week, the council adopted its own sanctions after Iran rebuffed a plan to suspend uranium enrichment and swap its stockpiles of low-enriched uranium for fuel rods.
They are also in line with measures adopted by the Obama administration, which imposed penalties on Wednesday against individuals and institutions it says are helping Iran develop its nuclear and missile programs and evade international sanctions.
British Prime Minister David Cameron said yesterday that Europe needed to play a full role in the international effort to deal with Iran's nuclear program.
This means "making sure that we have a strong package of sanctions against Iran," he said. "We believe it is incredibly important."
The new EU sanctions will now be passed on to government technical experts to work out the specifics of which companies and products would be targeted, and how. This could be tricky, given the different economic interests of EU countries.
Officials predicted the procedure would last a month before the final list is endorsed by EU foreign ministers.
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