Middle East Economic Survey

VOL. LIV

No 49

5-Dec-2011

IRAN

EU Divided Over Iranian Oil Embargo Proposal

EU foreign ministers meeting in Brussels on 1 December did not agree on a French proposal to impose an embargo on imports of Iranian oil because of Tehrans nuclear program, but did agree to impose existing sanctions on a further 141 companies and 39 people. These measures include the freezing of assets and travel bans. An EU statement said: The council agreed to broaden existing sanctions...