Cejiss

Oil imports from Iran have been banned by the European Union as it steps up its sanctions in response to the country's nuclear programme. In addition the assets of Iran's central bank within the EU were frozen.
The embargo forbids new contracts being signed while allowing existing deals to continue until July 1, to give EU member states time to find alternative supplies. Currently the EU buys 20 per cent of Iran's oil, with Greece relying on the Gulf state for a third of its supply. Italy takes 13 per cent of its oil from Iran, and Spain 10 per cent.
The move comes after Iran, which insists its nuclear ambitions are peaceful, threatened to close the Strait of Hormuz – through which 35 per cent of the world's sea borne oil is shipped – in response to the sanctions. But yesterday a British Royal navy frigate and a French warship joined a flotilla of six ships led by the United States aircraft carrier USS Abraham Lincoln in passing through the Strait without incident, according to the Pentagon.
Arriving at today's meeting of foreign ministers in Brussels, at which the embargo was formally approved, EU High Representative Catherine Ashton said: "The pressure of sanctions is designed to try and make sure that Iran takes seriously our request to come to the table and meet." She said she had still received no response to an offer made last October to resume talks with Iran. The EU has already put in place a raft of sanctions.
Meanwhile British foreign secretary William Hague insisted the move was "peaceful" and "legitimate". He said: "This shows the resolve of the EU on this issue. It is absolutely right to do this when Iran is continuing to breach United Nations resolutions and refusing to come to meaningful negotiations on its nuclear programme." His Swedish counterpart Carl Bildt insisted that the sanctions had to be accompanied by "diplomatic engagement".
In a statement following the decision Hague added: "Iran's recent decision to commence 20 per cent enrichment at its underground site at Qom shows that it continues to choose a path of provocation. This is an enrichment programme that has no plausible civilian use, in a site that the Iranian authorities hoped to keep secret."
Iran earned $78bn on oil sales in 2010 – accounting for more than half of its national budget and 80 per cent of exports, according to the US energy department. In the same year the EU imported €14.5bn of Iranian goods, of which 90 per cent was oil and related products. Oil prices rose in expectation of the ban, which will be reviewed by the EU before the beginning of May. As well as the oil ban, the assets of Iran's central bank have been frozen.
Hague said the Iranian threat to close the Strait of Hormuz, which was reiterated today in light of the sanctions, would be "illegal" and "unsuccessful". The stretch of water, used by Saudi Arabia, Iraq, Qatar, Kuwait and the United Arab Emirates as well as Iran, is only 21 miles wide at its narrowest point and carries 17 million barrels of oil a day. But the deputy head of the Iranian parliament's national security committee told the Fars news agency: "If any disruption happens regarding the sale of Iranian oil, the Strait of Hormuz will definitely be closed."
Foreign ministers also added to the EU's sanctions against Syria, where more than 5,000 people are thought to have been killed by forces loyal to President Bashar al-Assad, who has rejected a plea from the Arab League to step aside in favour of a national unity government. The EU imposed an asset freeze and travel ban on 22 people which it said were responsible for human rights violations and eight entities that have supported the Assad regime financially. Overall it means 108 people and 38 entities are now affected by the restrictions.
Ashton said: "Today's decision will put further pressure on those who are responsible for the unacceptable violence and repression in Syria. The message from the EU is clear: the crackdown must stop immediately. We will continue to do all we can to help the Syrian people achieve their legitimate political rights."

The article is republished with permission of PSE. Copyright and original publication by PSE.