Britain To Freeze Assets Of Iran's Largest Bank In New Sanctions

LUXEMBOURG — An EU spokeswoman says the 27-nation bloc is ready to issue stronger financial sanctions against Iran.

The spokeswoman for EU foreign and security affairs chief Javier Solana says EU foreign ministers meeting in Luxembourg have not formalized the decision.

But Cristina Gallach says: "it is clear they are ready to move further. We will definitely take a formal decision."

She would not speculate Monday on the timing of a final decision but made it clear foreign ministers from the bloc have agreed in principle on stronger punishment for Tehran.

British Prime Minister Gordon Brown had said earlier he will push for stronger sanctions. He and the 26 other EU leaders are meeting in Brussels for an EU summit later this week.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

LONDON (AP) _ A British official says European Union nations have agreed in principle to freeze the assets of Iran's largest bank.

Prime Minister Gordon Brown's spokesman, Michael Ellam, said Monday an agreement is in place over the assets of Bank Melli.

Ellam has said following talks in London between Brown and President Bush that all EU member states had agreed they should freeze the bank's assets.

Foreign ministers were meeting in Luxembourg on Monday and Iran was high on the agenda. European Union officials could not immediately confirm the plans.

Comments

[Raymondf]

Ahmadinejad for president in 2012

[wndrwrthg]

And when Iran freezes oil production?

[Raymondf]

We don't get oil from Iran anyway let them freeze it. Most od our oil comes from the US, and Saudi Arabia.

[jneems]

Was this article written before Reuters reported that Iran hastily took 75 billion out of Europe and put it into gold? Looks like Iran outsmarted the British??

Ha! Iran withdrew 75 billion dollars from Europe and transfered it into gold before Britain could get its hands on it. I don't know how much Iran had stashed in Europe, but withdrawing 75 billion must be a bit of an economic ouch for Britain, etc.

[CrazyDemocrat]

The BIG squeeze on Iran is about to begin, everyone hang tight

[Mintswell]

Gordon Brown has a courage that is unknown to US Democrats.

[TXfemmom]

Announcing that one is going to freeze the funds before doing it would seem ridiculous.

[flamflurm]

http://www.reuters.com/article/topNews/idUSDAH63024720080616?feedType=RSS&feedName=topNews&rpc=22&sp=true

Right. That will stop them. Dutch Boy, you should be happy. Your mullahs will get their bombs with China's help now.

[helonias]

We and the Brits need another "Operation Ajax"

Google it.

[wayoutleft]

you think we have to google operation agax you simpleton!?

[instagladiator]

"When the Iranians say we have a sovereign right to have one, the answer is 'You bet you have a sovereign right, absolutely'," Bush said, referring to a civilian nuclear program.

"But you don't have the trust of those of us who have watched you carefully when it comes to enriching uranium, because you have declared that you want to destroy democracies in the neighborhood."

Talk about the pot calling the kettle black?

Rewrite:
"But you don't have the trust of those of us who have watched you carefully when it comes to fighting terrorists, because you have shown that you want to destroy democracies in the world."

[S1m0n]

A man who's guilty both of crimes of war and crimes against peace has a hell of a nerve to be lecturing Iran about "trust". The Iranians haven't started even one war, Dubya, so they've got all the moral high ground when compared with either the US or UK.

[BuyRubles]

Iran should respond by obliterating the Green Zone.

[southafrica4obama]

The unelected Prime Minister Gordon Brown is now the new Bush lapdog. Well, we see if it works.

[Durango]

But, but, but,

Aren't all Prime Ministers of Great Britain elected? Elected to Parliament that is. And then their party elects (selects?) them to be PM?

So how could Brown be unelected?

Granted I am an American and the parliamentary system is more than a mystery to me.

But I do know that if we had such a system George W. Bush would have been long gone.

[JScott]

You mean they haven't already? How slow can ya be?