The foreign ministers of the European Union decided to impose further sanctions against Iran. The aim of EU policy is to force the Iranian regime to stop its nuclear enrichment process and permit IAEA inspections of its nuclear facilities. The new sanctions aim at Iran’s financial and energy industries. Bank transfers from and to Iran will be severely limited and European enterprises will be banned from investing in Iran.

German Foreign Minister Westerwelle defended the decision against criticism from the industry sector. A nuclear armed Iran would have worse consequences for the economy than the sanctions, he said.

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