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(AP-Washington Post) The EU's 27 foreign ministers, meeting Monday in Brussels, imposed an oil embargo against Iran and froze the assets of its central bank, ramping up sanctions designed to pressure Iranian officials into resuming talks on the country's nuclear program. In Washington, Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner welcomed the EU decision, calling it "another strong step in the international effort to dramatically increase the pressure on Iran." The EU sanctions include an immediate embargo on new contracts for crude oil and petroleum products. Existing contracts with Iran will be allowed to run until July. 2012-01-24 00:00:00Full Article
EU Adopts Oil Embargo Against Iran
(AP-Washington Post) The EU's 27 foreign ministers, meeting Monday in Brussels, imposed an oil embargo against Iran and froze the assets of its central bank, ramping up sanctions designed to pressure Iranian officials into resuming talks on the country's nuclear program. In Washington, Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner welcomed the EU decision, calling it "another strong step in the international effort to dramatically increase the pressure on Iran." The EU sanctions include an immediate embargo on new contracts for crude oil and petroleum products. Existing contracts with Iran will be allowed to run until July. 2012-01-24 00:00:00Full Article
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