European Union governments hit Iran with new sanctions on its oil and gas and toughened some that were already in place on the country’s banks.
Reuters reported that the Tuesday action was taken after a Monday decision that, among other things, banned natural gas imports to Europe and cracked down on EU companies that cooperate with Iran’s shipbuilding industry. Those measures were in addition to tougher restrictions on the country’s central bank and new actions against major Iranian state companies in the oil and gas industry.
The EU’s Official Journal has listed more than 30 entities as targets for asset freezes in Europe. Among them are the National Iranian Oil Company (NIOC), one of the largest exporters of crude oil in the world, and the National Iranian Tanker Company (NITC).