The European Union tightened trade sanctions against Iran on Friday to punish Tehran for not committing to a long-standing demand of the international community that it freeze its nuclear enrichment program, reported Associated Press.
The new EU restrictions go slightly beyond existing U.N. trade sanctions and are designed to deny public loans or export credits to companies trading with Iran.
France, which holds the rotating EU presidency, said European governments would also carefully watch financial groups doing business with Iranian banks and step up checks on ships and airplanes traveling to Iran.
“This resolution expands the range of restrictive measures adopted by the U.N. Security Council,” in December 2006 and March 2007, an EU statement said.
EU countries will inspect airplanes and ships traveling to and from Iran to check that they are not carrying contraband goods. France said they would focus on Iran Air Cargo and the Islamic Republic of Iran Shipping Line.
European governments will also monitor banks dealing with Bank Saderat, an Iranian bank with purported links to suspect Iranian nuclear activities.