EU Toughens Sanctions On Banking, Trade With Iran

Law360, New York (October 15, 2012, 4:28 PM EDT) -- The European Union on Monday approved new sanctions against Iran over Tehran's nuclear activity, further restricting transactions with the country's banking industry and prohibiting the trade of natural gas and certain metals.

The EU's foreign ministers agreed to the new punitive measures at a meeting in Luxembourg and reiterated their “serious and deepening concerns” over Iran's nuclear program. The stiff new measures come after the EU in January banned the import of Iranian crude oil and froze assets of the Iranian Central Bank.

The sanctions are...
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