The UN is going to impose sanctions on Iran TODAY James Blitz of the Financial Times writes: The European Union is expected to impose new economic sanctions on Iran today, going well beyond the measures approved by a UN resolution last month. The EU’s foreign ministers , meeting in Brussels, are likely to ban all new investment by European companies in the Iranian oil and gas sectors. This will form part of what some diplomats describe as the most wide-ranging sanctions the EU has ever agreed against any country. The measures are expected to include an asset freeze on some 40 Iranian companies believed to be linked to the country’s nuclear programme. This would be in addition to the 40 companies singled out in last month’s UN resolution.The sanctions will also clamp down on financial transactions between the EU and Iran. From today onwards, any transaction worth more than €40,000 (£52,000, £33,000) with Iran will first need approval from the national treasury of the EU country involved. In the past, US and British diplomats have privately lamented the EU’s lack of
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