Schneider Electric Expands Youth Partnership with Enactus to Drive Inclusive Energy Transition in Egypt    China's Jiangsu Zhengyong to build $85m factory in Egypt's Ain Sokhna: SCZONE    Egyptian pound ticks up vs. US dollar at Thursday's close    Egypt condemns Israeli plan to build 3,400 settler homes in West Bank    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Egypt, Namibia explore closer pharmaceutical cooperation    Egypt, China ink $1bn agreement for Sailun tire plant in SCZONE    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egypt's Electricity Minister discusses progress on Greece power link    Egypt's FM discusses Gaza, bilateral ties in calls with Saudi, South African counterparts    Egypt prepares to tackle seasonal air pollution in Nile Delta    27 Western countries issue joint call for unimpeded aid access to Gaza    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Colombia discuss medical support for Palestinians injured in Gaza    Australia to recognise Palestinian state in September, New Zealand to decide    Egypt, Huawei explore healthcare digital transformation cooperation    Global matcha market to surpass $7bn by 2030: Nutrition expert    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt's govt. issues licensing controls for used cooking oil activities    Egypt to inaugurate Grand Egyptian Museum on 1 November    Egypt, Uganda strengthen water cooperation, address Nile governance    Egypt's Sisi: Egypt is gateway for aid to Gaza, not displacement    Korean Cultural Centre in Cairo launches folk painting workshop    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    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 ministers plan Iran oil embargo, IAEA team to visit
Published in Ahram Online on 11 - 01 - 2012

Europe and Japan moved ahead in planning for punitive cuts in oil imports from Iran, where a senior official dismissed Western anger at news Tehran is enriching uranium deep underground as cover for ulterior motives
A day after Iran confirmed the start of enrichment at a mountain bunker near the holy city of Qom - and sentenced an American to death for spying - the European Union brought forward a ministerial meeting on Tuesday that is likely to match new U.S. measures to hamper Iran's oil exports.
Russia expressed "regret and concern" at news that Iran had begun enrichment operations at the Fordow bunker and criticised Tehran for ignoring the international community's demands for a response to its concerns.
An official at the IAEA, the UN nuclear watchdog, said inspectors were expected to visit Iran soon to discuss their worries about possible military aspects to its nuclear programme.
Japan took precautions in case it joins an international embargo on buying Iranian crude by asking Saudi Arabia and the United Arab Emirates to help it make up any shortfall.
Anxiety about the Iranian nuclear programme helped push up oil prices, and Brent February crude rose 92 cents to $113.37 a barrel by 12:48 p.m. EST (1748 GMT)
Iran's envoy to the International Atomic Energy Agency was scathing about reactions to Monday's news, confirmed by the IAEA, that the Fordow site was enriching uranium - something Western powers say is aimed at developing nuclear arms, rather than the civilian uses that Iran asserts.
Noting that Fordow had been monitored by the IAEA for two years, Ali Asghar Soltanieh told Iran's ISNA news agency that Western reaction had "political purposes". The clerical leadership in Tehran, under pressure from sanctions that are disrupting the economy ahead of a parliamentary election, often accuses Western powers of seeking to overthrow it.
In Brussels, the European Union said it brought forward by a week, to Jan. 23, a meeting at which foreign ministers from the bloc, which rivals China as Iran's biggest customer for crude, are expected to confirm an embargo on oil purchases.
The 27 EU governments are still debating how quickly some of their ailing and oil-dependent economies can afford to drop a key supplier and find alternatives.
The change is officially to avoid a clash with an EU summit on Jan. 30, but bringing the ministers' meeting forward could speed a decision on when to impose the ban, following U.S. President Barack Obama's New Year's Eve move to stop payments to Iran for oil.
The Islamic Republic's decision to carry out enrichment work deep underground at Fordow could make it much harder for U.S. or Israeli forces to carry out veiled threats to use force against Iranian nuclear facilities. That in turn could narrow a time window for diplomacy to avert any attack.
The U.S. State Department on Monday called uranium enrichment at Fordow a "further escalation" of Iran's "ongoing violations" of U.N. resolutions.
France called for measures of "unprecedented scale and severity" against Tehran. Germany and Britain also condemned it. Others, including Greece and Italy, which are bigger customers for Iranian oil, are seeking delays before cutting off imports.
The death sentence on Monday for Amir Mirza Hekmati, 28, an Arizona-born former U.S. military translator with dual Iranian-U.S. nationality, further riled Washington, which denies he is a spy and has demanded his immediate release since his arrest.
The two moves come at a time when new U.S. sanctions imposed over Iran's nuclear programme are causing real economic pain.
The rial has lost 20 percent of its value against the dollar in the past week alone, raising the cost of living for Iran's 74 million people. As they scrambled to buy dollars to protect savings, some said mobile phone text messages were being blocked where they included discussion of "dollars" or "currency". Officials denied any state censorship.
Tehran has responded to the sanctions moves with threats to international shipping that have frightened oil markets. A parliamentary election in two months is widening Iran's internal political divisions, though the widely diverse opposition to the clerical leadership is also divided, both in Iran and in exile.


Clic here to read the story from its source.