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EU Readies Ban on Iran Oil Imports, Central Bank Sanctions
BRUSSELS
European Union governments are expected to agree Monday new economic sanctions against Iran over its nuclear program, including plans to phase in an oil embargo.
The sanctions follow fresh financial measures signed into law by U.S. President Barack Obama on New Year's Eve, and will mainly target the oil sector, which accounts for some 90 percent of Iranian exports to the EU. Europe is Iran's second-largest oil customer after China.
"We want them to think 'This is really getting very, very serious now'," said one European diplomat.