EU Imposes Oil Sanctions


In an attempt to deflect Tehran‘s nuclear development program the European Union has today joined the United States in a new round of measures and imposed sanctions on Iran‘s oil imports to Europe. It however has not imposed a complete ban on oil imports. In response to this a Iranian politician responded by renewing a threat to blockade the Strait of Hormuz, which is a oil export route vital to the global economy, and another said Tehran will cut off it’s crude shipments to the EU immediately which would greatly affect ailing European economies such as Greece, Italy, which depend … Continue reading EU Imposes Oil Sanctions