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EU set to follow US in upping sanctions on Iran

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Newscom

(Read caption) EU's high representative for foreign affairs and security policy Catherine Ashton attends press conference after EU foreign ministers meeting in Luxembourg on June 14. The EU is ready to join the US in tougher sanctions against Iran.

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European Union leaders are today expected to adopt tougher sanctions against Iran in a further effort to stall its nuclear program. The EU sanctions follow the Obama administration's expansion of sanctions to target Iran’s nuclear and missile programs, state-controlled banks, companies accused of supporting proliferation activities, and the Revolutionary Guard Corps.

Both the EU and US sanctions go further than those adopted by the United Nations Security Council resolution June 9.

That fourth round of UN-approved sanctions was watered down to gain support from China and Russia. The intent is to punish Tehran for planning to enrich uranium to 20 percent by disrupting the money flow to Iran's Revolutionary Guard. It called for an asset freeze on 40 companies and organizations involved in nuclear or ballistic missile activities.

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