AFP: The European Union is readying its toughest action to date against Iran, moving to dry up funding of its contested nuclear drive by targeting both its oil and financial sector, diplomats said Friday.
EU readies unprecedented Iran oil, bank sanctions
Senators tell Geithner not to ease Iran sanctions law
Reuters: Senators on Thursday warned Treasury Secretary Timothy Geithner not to weaken a new law aimed at thwarting Iran’s nuclear ambitions by allowing countries to use different criteria to escape financial sanctions.
Exclusive – Turkey works to cut dependence on Iranian oil
Reuters: Turkish refiner Tupras plans to cut its dependence on imports of Iranian oil and will meet Saudi Arabian authorities this month, industry sources familiar with the company’s strategy said on Thursday, as Western powers crack down on Iran’s oil sales.
EU to sanction Iran bank, Greece holds up oil embargo
AFP: EU nations Thursday agreed to sanction Iran’s central bank, freezing assets used to finance its nuclear drive, but have yet to clinch an oil embargo deal that could penalise debt-hit Greece.
Japan oil industry likely to cut Iran imports in 3 mths time
Reuters: Japan’s oil industry is likely to cut its purchases of Iranian crude oil in about three months as Tokyo grapples with a new U.S. sanctions law, Akihiko Tembo, president of the Petroleum Association of Japan (PAJ), said on Thursday.
Iran says in touch with powers on new talks, U.S. denies
Reuters: Iran said it was in touch with world powers to reopen talks soon on its nuclear program, but Washington and the European Union denied this and said they were still waiting for Tehran to show it was ready for serious negotiations.
China’s Wen defends Iran oil, warns on nuclear aims
Reuters: Chinese Premier Wen Jiabao defended his country’s extensive oil trade with Iran against Western sanctions pressure in comments published on Thursday, and yet also warned Tehran against any effort to acquire nuclear weapons.
Syria’s Brotherhood rejected Iran-mediated deal
Reuters: Iranian officials contacted Syria’s Muslim Brotherhood to try to mediate a political solution to a 10-month-old uprising against President Bashar al-Assad but their efforts were rebuffed, a senior Brotherhood member said on Wednesday.
U.S. mulls options for slashing Iran’s oil revenues
Reuters: The Obama administration, still grappling with how to punish a nuclear-ambitious Iran, is focusing on making countries cut purchases of Iranian oil, rather than allowing them to avoid U.S. sanctions simply by winning price cuts.
Iran currency hits new low in blackmarket trading
AFP: Iran’s currency, the rial, hit a record low against the dollar on Wednesday, the ISNA news agency reported, based on rates in blackmarket trading that the government has tried to ban.
