The European Union tightened trade sanctions against Iran on Friday to punish Tehran for not committing to a long-standing demand of the international community that it freeze its nuclear enrichment program. The new EU restrictions go slightly beyond existing U.N. trade sanctions and are designed to deny public loans or export credits to companies trading with Iran.
France, which holds the rotating EU presidency, said European governments would also carefully watch financial groups doing business with Iranian banks and step up checks on ships and airplanes traveling to Iran. "This resolution expands the range of restrictive measures adopted by the U.N. Security Council," in December 2006 and March 2007, an EU statement said.
The EU called on member nations to "show restraint when granting new public loans for trade with Iran ... (and) to also be vigilant on activities taken by financial institutions with banks based in Iran." |