Economy - Voice of America: EU Oil Embargo on Iran Goes into Effect Sunday

Economy - Voice of America economy-and-business

EU Oil Embargo on Iran Goes into Effect Sunday Jun 28th 2012, 15:59 ​​LONDON -- European Union sanctions on Iran's oil industry go into full effect on Sunday, adding to the pressure on Iranian leaders to negotiate a settlement of the international concerns about their nuclear program.  The world runs on oil, much of it transported on ships from countries in the Middle East, including Iran. But the European Union has all but stopped its imports from Iran, and the flow will stop completely by Sunday. The move was expected to be costly, resulting in an ... Media files: ED6D917B-0FF0-4F90-BB20-DB029B861584_cx0_cy0_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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