Pressuring Iran-News Analysis-01-23-2012

The EU has finally agreed to impose an embargo on Iran's oil in a bid to force Tehran into abandoning its nuclear energy program.

The EU ban which will come into effect on July the first, immediately impacted oil prices in the world market. The embargo on Iran comes as European countries have already concluded oil contracts with Tehran for 2012. The EU has also posed the ban on the sales of gold, diamond and other precious metals to Iran.

The EU embargo on Iranian Oil has drawn immediate reaction from Russia. Moscow says unilateral sanctions against Iran are unhelpful.

The US earlier put pressure on other countries to sub-buying oil from Iran.

In this edition of News Analysis, we will discuss whether other sanctions going to backlash on the European economy and how is Iran going to respond?

Category:

News & Politics

Tags:

• European leaders
• European economy
• Oil sanction
• Tehran
• Iran
• EU
• energy program
• IAEA
• EU ban
• Oil prices
• Dr. Mohammed Marandi
• IAEA report
• News Analysis
• Nuclear Energy
• Nuclear
• energy sector
• Iranian crude oil
• financial sector
• central bank
• oil prices
• world market
• oil contract
• Stephan Lendman
• diplomatic rhetoric
• Gold
• Diamond
• Russia
• Moscow
• China
• India
• Japan
• South Korea