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EU preparing sanctions for Iran

2010-07-21 17:50

European Union is preparing tougher sanctions against Iran, including prohibition of investments in oil and gas industry of the country and further restrictions on navigation and financial operations - Business-Gruzia.


The sanctions are caused by the Iran's refusal to stop uranium enrichment. In this way, supplies of the products, necessary for nuclear materials, arms and ammunition production, will be banned, as well as supplies or passing equipment or technologies for oil and liquefied natural gas refinement, their prospecting and extraction.

European companies will also be prohibited to render technical or financial aid to Iranian enterprises, involved in key sectors of oil and gas industry; activities of Iranian banks in the EU countries will be tangibly restricted, all cargo air delivery by Iranian companies will be stopped. 

The EU ministers will discuss new sanctions on July 22nd.

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