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EU plans major new sanctions against Iran

Published on Oct 15, 2012 6:22 AM

LUXEMBOURG (REUTERS) - European Union (EU) governments plan to ratchet up sanctions pressure against Iran over its nuclear programme on Monday, approving new measures against Teheran's banking sector, industry and shipping.

The new sanctions mark one of the toughest pushes against Iran by Europe to date, and come amid mounting concerns over the Islamic Republic's military intentions and the failure of diplomacy to solve the atom stand-off this year.

Iran insists its nuclear work has only peaceful dimensions and has refused in three rounds of talks since April to scale it back unless major economic sanctions are lifted.

But governments in Europe and the United States (US) have refused to do so and, instead, are tightening the financial screws against Teheran as fears grow that the nuclear dispute could envelop the Middle East in a new war.

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