EU TO ADOPT SANCTIONS OVER IRAN NUCLEAR PROGRAMME
Baku, July 26 (AZERTAC). EU foreign ministers are set to formally approve restrictions on Iran`s energy sector, to impede the development of its nuclear programme, according to the BBC.
Sanctions will target foreign trade, financial services, and the oil and gas sectors - the backbone of the economy.
Officials describe the likely decision as “by some way the most far-reaching sanctions adopted by the EU against any country”.
It comes a month after the US strengthened its own sanctions on Iran.
The US and its allies accuse Tehran of seeking to develop nuclear weapons. Iran insists its nuclear programme is solely for peaceful purposes.
The export of key equipment and technology for refining and for the exploration and production of natural gas will be barred. New European investment in major sectors of the Iranian economy will also be banned. Ships will be inspected if they are suspected of carrying illegal material.
On Sunday, Iranian President Mahmoud Ahmadinejad warned the European Union against imposing sanctions, saying his country would cause it to “regret” the move.
Mr. Ahmadinejad said that anyone who adopted hostile measures “should know that Iran will react swiftly”.
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