EU foreign ministers have set the clock ticking on an Iran oil embargo in six months' time despite fresh threats of naval retaliation.
Ministers in Brussels on Monday (23 January) agreed the Union will from 1 July no longer buy Iranian crude oil - worth about 20 percent of its exports - in order to stop an alleged nuclear weapons programme. It also blacklisted the Iranian central bank and banned trade in gold and diamonds.
The time-lag is designed to help Greece, Italy and Spain...
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? Login