European Union to enforce Iran oil embargo from July 1

Brussels - European Union foreign ministers have confirmed that the EU embargo on Iranian oil will take effect from July 1, as no progress has been made in talks over Iran's nuclear program.

Alarabiya reported EU foreign policy chief Catherine Ashton said “There is no change in terms of how we’re going forward on July 1. The sanctions that have been agreed will be implemented.” Greece's calls for possible exemptions to be made were dismissed by other European Union governments, according to Athens News. Greece was the only member state to oppose the embargo, vetoing the proposal in December. However, Greece then lifted its objections in January. Requests from Greece that it be allowed to accept deliveries of Iranian crude after July 1 have been rejected, as have requests for credit guarantees to allow the debt-ridden nation to purchase oil elsewhere. Naharnet reports that most EU countries have now ceased accepting Iranian oil, though an exception was made for Italy where ENI is accepting delivery of Iranian oil in reimbursement of an outstanding debt.