Brussels: European Union ambassadors agreed on Monday to impose an embargo on Iranian oil imports, but decided to delay the full implementation of the ban until July 1, an EU diplomat said.
Their agreement was the final step before EU foreign ministers can give their formal approval to the measure. The EU's 27 foreign ministers meet in Brussels on Monday.
"(EU ambassadors) have agreed on Iran sanctions," the senior EU diplomat said, speaking on condition of anonymity.
Under the deal, EU governments will have to stop signing new contracts with Tehran from the moment the ban comes into place, probably as soon as this week, but will be able to fulfil existing contracts until July 1....more
02:34 PM, Jan 23, 2012