Friday, January 6, 2012

Europeans Plan Oil Embargo on Iran

The European Union agreed in principle to enact an embargo on all purchases of Iranian oil, significantly increasing the West's financial war on Tehran at a time of heightened tensions in the Persian Gulf.

The decision followed U.S. measures against Iran's central bank, and the value of the Iranian rial plunged in recent days?forcing Tehran's central bank to consider measures to support the currency?in what U.S. and European officials said was proof that the West's financial campaign was succeeding in draining Tehran's coffers.

Iranian defense officials have intensified threats this week to retaliate against sanctions efforts by targeting Western ships ...

The European Union agreed in principle to enact an embargo on all purchases of Iranian oil, significantly increasing the West's financial war on Tehran at a time of heightened tensions in the Persian Gulf.

The decision followed U.S. measures against Iran's central bank, and the value of the Iranian rial plunged in recent days?forcing Tehran's central bank to consider measures to support the currency?in what U.S. and European officials said was proof that the West's financial campaign was succeeding in draining Tehran's coffers.

Iranian defense officials have intensified threats this week to retaliate against sanctions efforts by targeting Western ships ...

Source: http://online.wsj.com/article/SB10001424052970203471004577140583587139896.html?mod=rss_europe_whats_news

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