EU announces embargo on Iranian oil

EU announces embargo on Iranian oil

Report. Explanations following the announcement of the decision of the countries of the European Union to impose an oil embargo against Iran, in order to get it to renounce its military nuclear program. This is also a point about the threat by some Iranian officials to close the Strait of Ormuz, which worries the United States. Commentary on factual and illustrative images alternating with interviews with French Foreign Minister Alain JUPPE and General Hugh SHELTON, former Chief of Staff of the American Armed Forces. [Source: Documentation France 3] The countries of the European Union have decided today to impose an unprecedented raduel oil embargo against Iran, and to sanction its central bank in order to dry up the financing of its controversial nuclear program. The embargo also covers the assets of the Iranian central bank and partially prohibits transactions with the monetary institute, including the production of coins and notes on its behalf. ALAIN JUPPE: "Our objective is to ensure that Iran renounces its military nuclear program and complies with the resolutions of the Security Council. Some Iranian officials are threatening to close the Strait of Ormuz. GENERAL HUGH SHELTON: "It’s an act of war to close an international shipping gateway. I think the Iranians are smart enough not to do it and if they do they will pay the price. The Strait of Ormuz is a strategic crossing between Iran and the Arabian Peninsula, through which more than a third of the world’s oil flows. At the beginning of January the Iranian navy had organized and staged military manoeuvres in Detroit.

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File : European embargoes

Publication date : 23 January 2012