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1/21/12

EU set to turn screws on Iran - by David Blair

European Union is preparing to launch an unprecedented attack on Iran's economy at a moment when experts believe the confrontation over the country's nuclear ambitions is entering a dangerous new phase.

An embargo on Iran's oil is due to be agreed by EU foreign ministers tomorrow, potentially depriving Tehran of a quarter of its total exports. Designed to increase pressure on Iran to negotiate over its nuclear program, it is also a measure of the scale of concern.

The European Union is preparing to launch an unprecedented attack on Iran's economy at a moment when experts believe the confrontation over the country's nuclear ambitions is entering a dangerous new phase.

An embargo on Iran's oil is due to be agreed by EU foreign ministers tomorrow, potentially depriving Tehran of a quarter of its total exports. Designed to increase pressure on Iran to negotiate over its nuclear program, it is also a measure of the scale of concern. Officials note that a series of events - ranging from the storming of the British Embassy in Tehran to the regime's threats to disrupt oil supplies in the Gulf - prove that Iranian decision-making is becoming more belligerent and unpredictable.

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