Lagarde's speech following ECB rate cuts    OPEC+ defends decision amid oil volatility    European stocks rise on tech ahead of ECB meeting    Acceleration needed in global energy transition – experts    Sri Lanka grants Starlink preliminary approval for internet services    Colombia likely to cut coal sales to Israel amid ongoing war on Gaza    HDB included in Brand Finance's top 200 brands in Africa for 2024    MSMEDA aims to integrate environmental dimensions in SMEs to align with national green economy initiatives    China-Egypt relationship remains strong, enduring: Chinese ambassador    Egypt, Namibia foster health sector cooperation    Palestinian resistance movements to respond positively to any ceasefire agreement in Gaza: Haniyeh    Egypt's Al-Mashat, KEXIM Bank discuss joint projects at Korea-Africa Summit    Egypt's EDA, Zambia sign collaboration pact    Managing mental health should be about more than mind    Egypt, Africa CDC discuss cooperation in health sector    Sudanese Army, RSF militia clash in El Fasher, 85 civilians killed    Madinaty Sports Club hosts successful 4th Qadya MMA Championship    Amwal Al Ghad Awards 2024 announces Entrepreneurs of the Year    Egyptian President asks Madbouly to form new government, outlines priorities    Egypt's President assigns Madbouly to form new government    Egypt and Tanzania discuss water cooperation    Grand Egyptian Museum opening: Madbouly reviews final preparations    Madinaty's inaugural Skydiving event boosts sports tourism appeal    Tunisia's President Saied reshuffles cabinet amidst political tension    US Embassy in Cairo brings world-famous Harlem Globetrotters to Egypt    Instagram Celebrates African Women in 'Made by Africa, Loved by the World' 2024 Campaign    Egypt to build 58 hospitals by '25    Madinaty to host "Fly Over Madinaty" skydiving event    Swiss freeze on Russian assets dwindles to $6.36b in '23    Egyptian public, private sectors off on Apr 25 marking Sinai Liberation    Debt swaps could unlock $100b for climate action    Financial literacy becomes extremely important – EGX official    Euro area annual inflation up to 2.9% – Eurostat    BYD، Brazil's Sigma Lithium JV likely    UNESCO celebrates World Arabic Language Day    Motaz Azaiza mural in Manchester tribute to Palestinian journalists    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



EU hits Iran with new sanctions, urges nuclear talks
Published in Daily News Egypt on 26 - 07 - 2010

BRUSSELS: The European Union hammered Iran on Monday with fresh sanctions against its vital energy sector as Brussels cranked up pressure on Tehran to resume talks on its disputed nuclear program.
Foreign ministers formally adopted punitive measures which were approved last month by EU leaders, going beyond a fourth set of UN sanctions imposed over Tehran's refusal to freeze nuclear work, diplomats said.
The European sanctions are part of a dual-track approach, with EU foreign affairs chief Catherine Ashton seeking to revive moribund talks between Iran and six world powers — Britain, China, France, Germany, Russia and the US.
"We want to see dialogue on nuclear weapons capability to start as soon as possible in order to reach an agreement," Ashton told reporters ahead of a regular meeting of EU foreign ministers in Brussels.
"Until we get to that point we will continue to take our responsibilities seriously... (The) purpose of those sanctions is to persuade Iran, 'we need to discuss this issue, and move forward,'" she said.
The EU measures include a ban on the sale of equipment, technology and services to Iran's energy sector, hitting activities in refining, liquefied natural gas, exploration and production, diplomats said.
There is also a prohibition on new investments in the energy sector.
Ashton has exchanged letters with Iran's chief nuclear negotiator Saeed Jalili in recent weeks in a bid to revive talks, and Tehran has indicated that the talks could resume in September.
The last high-level meeting between Iran and the six world powers was held in Geneva in October 2009 when the two sides agreed a nuclear fuel swap that has since stalled.
"We are adopting an extended-hand policy, but Iran would also have to grab it," Werner Hoyer, the German deputy foreign minister, told reporters.
"I think that some in Iran were not expecting the European Union to adopt such sanctions. They are starting to think in Iran," he said.
Iranian Foreign Minister Manouchehr Mottaki said at the weekend that Tehran was ready to hold immediate talks on a nuclear swap deal brokered by Turkey and Brazil in May and would convey that message in a letter to the UN nuclear agency on Monday.
That deal, a counter-proposal to the October 2009 agreement, has been cold-shouldered by world powers.
Iranian President Mahmoud Ahmadinejad had warned the EU on Sunday against imposing unilateral sanctions, saying Tehran would react swiftly and cause "remorse."
"We do not welcome any tension or a new resolution. We seek logic and friendship," Ahmadinejad said in remarks which were translated into English by the Press TV channel.
Western powers have demanded that Iran suspend its uranium enrichment program, fearing that Tehran would use the material to build a nuclear bomb. Tehran says its atomic program is a peaceful drive to produce energy.
The new EU sanctions follow a similar move by the United States against Iran's energy sector.
Iran is the world's fourth largest producer of crude oil, but imports 40 percent of its fuel needs because it lacks enough refining capabilities to meet demand.
The unilateral US and EU sanctions are "expected to have a material impact on the country's energy industry," the International Energy Agency said last week.
The EU sanctions also ban dual-use goods that can be used for conventional weapons. It will also step up vigilance of the activities of Iranian-connected banks operating in the EU and bar them from setting up branches.
Swedish Foreign Minister Carl Bildt said sanctions alone would not be enough to resolve the nuclear dispute.
"I have yet to meet anyone who thinks that this issue will be sorted out by sanctions alone. So I think that we'll have to look at the different ways with which we can strengthen and emphasize the diplomatic track," Bildt said.


Clic here to read the story from its source.