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Dec 21, 2012 | 14:24 GMT

Iran: EU Agrees On New Sanctions

The European Union agreed on new sanctions against Iran on Dec. 21, freezing assets and banning travel of an additional 18 companies and institutions and one person allegedly involved in nuclear activities or providing support to the Iranian government, according to an EU statement, AFP reported. Currently, the sanctions target 490 entities and 105 people. According to the statement, the union also approved implementing legislation agreed on by EU foreign ministers Oct. 15 for several new financial and trade sanctions on Iran. Sanctions have caused oil revenues to plummet and led to a currency crisis, but Iran has continued to refuse to cooperate with the West.

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