Bloomberg News

EU Diplomats Agree to Review Iran Sanctions Before May 1

January 23, 2012

Jan. 23 (Bloomberg) -- European Union diplomats agreed to review the bloc’s sanctions against Iran no later than May 1, according to an EU diplomat.

The measures would include an embargo on oil imports, with an exemption for existing contracts until July 1, and a ban on imports of petrochemicals from May 1, the diplomat said.

Diplomats also agreed to impose sanctions on the Iranian central bank and eight entities.

EU foreign ministers are expected to formally approve the restrictions later today.

To contact the reporter on this story: Ewa Krukowska in Brussels at ekrukowska@bloomberg.net

To contact the editor responsible for this story: Patrick Henry at phenry8@bloomberg.net


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