EU brings new Iran sanctions into force

Fri, 08 Aug 2008 12:11:32 GMT

The EU has issued a decree enacting the imposition of fresh UN Security Council sanctions against Iran over its nuclear program.

In a Friday announcement, the EU presidency decreed that its financial institutions exercise 'restraint' on export credits and that its 27 member states inspect Iran-bound cargoes.

The European Union also urged the countries to exercise vigilance in dealing with 'all banks domiciled in Iran, in particular Bank Saderat'.

The West has so far imposed three rounds of sanctions against Iran over its nuclear program and has repeatedly threatened Tehran with tougher sanctions and a military strike should the country continue uranium enrichment.

Tehran argues that as a signatory to the nuclear Non-Proliferation Treaty (NPT) it is entitled to uranium enrichment. Moreover, 14 snap inspections of Iran's nuclear sites by the UN nuclear watchdog, have confirmed the non-diversion of declared nuclear material in Tehran's nuclear program.

AR/HGH/MMN

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