European diplomats told the Wall Street Journal they reached a preliminary deal on a new raft of sanctions against Iran to force Tehran to negotiate over its nuclear program.
The measures, which focus on the energy, commerce, financial and transport sectors, were agreed to after several weeks of talks among member states. They are set to be signed Monday when foreign ministers meet in Luxembourg, the Journal reported.
EU diplomats said that coupled with the oil embargo it imposed as of July 1, the new measures would significantly increase the pressure on Iran’s government, which has recently seen a sharp drop in its currency value and energy revenue.
"We see these sanctions as a potentially very important step. These measures are the second most significant we’ve taken on Iran, after we banned the import of Iranian oil," one EU diplomat said to the Journal. "The issue is urgent and we need to tackle Iran’s ability to pursue the nuclear program."
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