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Last update - 07:46 09/08/2008
EU tightens sanctions against Iran over nuke program
By The Associated Press
Tags: nuclear program, sanctions 

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 UN 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.
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This resolution expands the range of restrictive measures adopted by the UN 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."

Earlier this week, France and the U.S. said Iran's response was insufficient to an international effort to defuse a dispute over its nuclear program. They said Iran has skirted the central question of whether it was ready to halt uranium enrichment that western nations see providing Tehran with nuclear weapons technology.

The new sanctions expand existing limits on trade with Iran beyond the UN Security Council's three sets of limited sanctions that monitor trade and banking. But they do not go as far as sanctions on Iran's oil and gas trade that EU ministers threatened in June.

The European Commission separately has begun implementing the third round of UN sanctions agreed on in March. The sanctions include refusing EU visas to some Iranian officials and freezing the assets of people or companies involved in the nuclear program.

It also forbids European companies from selling some products that could help Iran build atomic weapons.

On top of that, EU countries will now inspect airplanes and ships traveling to and from Iran if they have reason to believe that they are carrying contraband goods. France said they would focus on Iran Air Cargo and the Islamic Republic of Iran Shipping Line.

European governments will also monitor banks dealing with Bank Saderat, an Iranian bank with purported links to suspect Iranian nuclear activities.

Britain, the U.S. and others want to go further with their own sanctions targeting oil and gas that could badly hit Iran's already fragile economy - and that would not be backed by UN Security Council members China or Russia.

Oil-rich Iran draws 80 percent of its revenues from energy exports and is already suffering high inflation and rampant unemployment. The EU is Iran's biggest trading partner with two-way trade totaling $39 billion in 2006.

The UN Security Council's five permanent members and Germany have tried to entice Iran into suspending uranium enrichment by offering a package of economic, technological and political incentives.

Iran said Tuesday it would only give a clear response to this offer when it gets a direct response on questions it has about the incentives.

The U.S. and others accuse Iran of trying to develop nuclear weapons under cover of a civilian atomic energy program. Iran denies the charge, insisting its program is peaceful, but it has thus far refused to halt enriching uranium, a process that can produce the ingredients for a bomb.

Iran is under three sets of UN Security Council sanctions and could soon face a fourth unless it accepts the incentives package.

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      1.   To all hamas and others gangs apologists 19:29  |  JP 08/08/08
      2.   good, but there are far more that trade with iran 21:00  |  norman 08/08/08
      3.   For JP # 1 21:27  |  Clickfool 08/08/08
      4.   The EU is already loosing this, as Iran deals more with Asia. 22:00  |  John 08/08/08
      5.   mosquitoes trying to bite the elephant! 22:03  |  lakshmi 08/08/08
      6.   EU taking step in right direction, good job! 22:07  |  Johnny 08/08/08
      7.   Sanctions 22:25  |  Bughouse Loco 08/08/08
      8.   RUBBISH: Sarkozy`s bleating =/= EU sanctions 22:32  |  Bl4ckP0pe 08/08/08
      9.   Mullah´s and AMadjet´s gas to liquid will 22:48  |  Lakshmini 08/08/08
      10.   If there are no repercussions.... 22:55  |  DR 08/08/08
      11.   This is big! 23:28  |  Wendy 08/08/08
      12.   #3, Bughouse loco...please elaborate! 23:49  |  DR 08/08/08
      13.   lakshmi mistakes an inflated rubber elephant for a real one 00:33  |  Darth Zaider (Ed) 09/08/08
      14.   RE:DR 03:27  |  housam 09/08/08
      15.   RE:Darth Zaider (Ed) 03:33  |  housam 09/08/08
      16.   THE DIVIDED NATIONS SECURITY COUNSEL/RUSSIA/CHINA DON`T CARE IF 05:07  |  glenna 09/08/08
      17.   We can?t afford to wait : Time has come for action. 07:34  |  Jean Van Daem 09/08/08
      18.   A Strong Iran will insure stability 08:07  |  MiddleStanian 09/08/08
      19.   A Farce of Hot Air 11:29  |  Elly 09/08/08
      20.   Iran to EU: Iran is too powerful to be affected by ur silly sanct 14:56  |  Aounist 09/08/08
      21.   Iran Will Weather The Storm. 15:03  |  Cool B 09/08/08
      22.   Clickfool, please thank your parliament 16:57  |  Sam C 09/08/08
      23.   Cool B, not true 17:03  |  Sam C 09/08/08
      24.   the best sanctions are bombs 18:40  |  frenz 09/08/08
      25.   # 20 Aounist...no presidency and an embarrassment 23:22  |  Lynn 09/08/08
      26.   EU is softely like an girly or the Egg up the wall in Alice´s 03:24  |  JP 10/08/08
      27.   MiddleStupidian, you mean like Saddam`s Iraq stabilized ME? 04:58  |  Genuine Tosefta 10/08/08
      28.   #14, Housam...a perfect example... 20:19  |  DR 11/08/08
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