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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.
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Iran has made a preemptive strike against European sanctions on the import of Iranian oil, due to come into effect on July 1, by refusing delivery of 500,000 barrels of crude oil to Greece.
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Iran has taken preemptive steps against a European Union ban on Iranian oil imports, due to come into effect on July 1, by cutting oil exports to six European countries.
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Brussels -
Proposals by the EU to introduce sanctions against Iranian oil are likely to be delayed for six months amidst fears of the economic consequences to debt ridden nations Italy, Spain and Greece.
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