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EU adopts new sanctions against Iran

BRUSSELS (AP) - The European Union has formally adopted new sanctions against Iran that will come into force in the next few weeks.

The sanctions adopted today target the country's foreign trade, banking and energy sectors. It's the latest in a series of measures taken by the international community in an effort to halt Iran's nuclear program.

The move was agreed to in principle by EU leaders in June.

Iran's shipping and air cargo companies will be blacklisted and banned from operating in EU territory, and new visa bans and asset freezes will be imposed on Iran's Revolutionary Guard. The sanctions also encompass trade insurance and financial transactions.

The new European restrictions will come on top of a fourth round of sanctions imposed last month by the U.N. Security Council.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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