EU & Canada tighten sanctions against Iran

EU foreign ministers have adopted tougher sanctions targeting Iran's energy sector, in an effort to block its controversial nuclear programme.

There are new restrictions on foreign trade, financial services and the oil and gas sectors, the backbone of Iran's economy. Officials said the package was "by some way the most far-reaching sanctions adopted by the EU against any country".

Canada has also imposed sanctions against Iran. Like the EU, Ottawa's measures are targeting Iran's energy and banking sectors.
In response, Iran said the sanctions would fail.

"Sanctions are not considered an effective tool, and they will only complicate the situation", Iranian foreign ministry spokesman Ramin Mehmanparast was quoted as saying by the country's state-run media.

In a separate development, Tehran told the International Atomic Energy Agency (IAEA) that it was ready to return to negotiations on a nuclear fuel swap, without conditions.

It was responding to international concerns over a plan announced by Iran, Brazil and Turkey in May, under which Iran would send low-enriched uranium to Turkey in return for high-enriched uranium for use as fuel for a research reactor.

The plan has already been rejected by the world's major powers.
Iranian warning

On Sunday July 25, 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".

Posted by CBN Staff on 30 Jul 2010 [05:48] | Comments 0 |

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