European Union introduces embargo on Iran's oil

The European Union introduced an embargo on Iranian oil supplies on Monday,
the Council of the European Union said in a press statement, RIA-Novosti
reports.
An immediate ban on all new oil contracts with Iran is introduced, while
existing contracts will be honored until July 1.
During a meeting in Brussels on Monday, the 27 EU foreign ministers also
agreed to freeze the assets of the Iranian Central Bank.
The sanctions will come into force already next week, Reuters reports.
Speaking before the meeting, EU foreign policy chief Catherine Ashton said
the sanctions were intended to "make sure that Iran takes seriously our
request to come to the table and meet."
The IAEA delegation will visit Iran from January 27-31. The information has
been confirmed today.