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`EU sanctions on Iran to harm European economy`

Last Updated: Wednesday, October 17, 2012 - 23:45

Tehran: Iran has said the new European Union sanctions against the Islamic republic would further destabilise the already-worsening European economy, Xinhua reported.

According to Iran`s foreign ministry spokesperson Ramin Mehmanparast, the restrictions contravene the international law and regulations, including the freedom of trade and financial transactions between countries, Press TV reported Wednesday.

The EU slapped fresh sanctions against Iran Monday, including banning import of natural gas from Iran "over lack of progress in nuclear talks".

It also stressed a diplomatic solution to the Iranian nuclear issue while urging the country to "comply with all its international obligations".

The EU insistence on using "threadbare and uncivilised tools" instead of diplomacy and negotiations based on mutual respect will only further complicate the matters at hand, Mehmanparast said.

"This approach will not only fail to help resolve issues, but will also have a negative impact on the European economy at the time of present economic crisis and the Europe should be ready to face its consequences," Mehmanparast added.

The West has been accusing Iran of secretly developing nuclear weapons under civilian disguise, a charge that Tehran denies.


First Published: Wednesday, October 17, 2012 - 23:45

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