News24 | EU moves to sanction Iran over Hormuz blockade
Fishing boats sit idle on 17 May along the Strait of Hormuz on Qeshm Island, Iran. Negotiations between the US and Iran over opening this critical waterway have largely stalled as the countries have rejected each other's proposals to end the war that began when the US and Israel attacked Iran on 28 February.
Majid Saeedi/Getty Images
European Union nations moved on Friday towards imposing sanctions on Iranian officials and others responsible for blocking the Strait of Hormuz, the EU said.Tehran effectively closed the key shipping lane for global gas and oil in retaliation for US-Israeli strikes launched in February.Deeming the blockade “contrary to international law”, EU governments took a technical step to expand the scope of their existing Iran sanctions regime, allowing more people to be targeted under it. “The EU will now be able to introduce further restrictive measures in response to Iran’s actions undermining the freedom of navigation in the Strait of Hormuz,” the European Council representing EU nations said.Brussels’ punitive measures on Iran previously targeted the country’s military support for Russia in its war against Ukraine and for armed groups across the Middle East. The European Union has also imposed sanctions over human rights violations in the country.READ | Three supertankers crossing Strait of Hormuz, transporting oil bound for AsiaThe EU did not immediately name any people or entities targeted by the new sanctions, which include travel bans and asset freezes.EU citizens and companies will also be banned from making funds, financial assets or other economic resources available to those listed.The Iran war and the closure of Hormuz, which normally accounts for a fifth of global oil production, have sent ripples through the global economy, driving energy prices soaring.
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