EU countries' FMs agree on Iranian oil embargo
Azerbaijan, Baku, Jan. 23 / Trend S.Isayev/
The European bloc's foreign ministers have today agreed on a decision to put embargo on Iran's oil exports, Ria Novosti quoted AFP.
Earlier, the diplomatic sources in Brussels reported that as part of the new sanctions package, the EU countries are expected to wrap up all their imports of Iran's oil products by Jul. 1.
The main share of European imports of Iranian oil, falls on Greece, Italy and Spain with 68 percent. In Greece, the share of "black gold" consumption reaches 35%.
On December 31, US President Barack Obama approved sanctions against Iran's Central Bank, requiring foreign financial firms to make a choice between doing business with Iran's Central Bank and oil sector or with the US financial sector.
US sanctions, as well as other unilateral embargoes imposed on Iran's energy and financial sectors by Britain and Canada came after the International Atomic Energy Agency (IAEA) issued a report on Iranian nuclear program early November.
Tehran argues that as a signatory to the Nuclear Non-Proliferation Treaty and a member of the IAEA it has the right to develop and acquire nuclear technology for peaceful purposes.