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ENERGY NEWS
EU blacklists Iran energy minister under new sanctions
by Staff Writers
Brussels (AFP) Oct 16, 2012


The European Union on Tuesday froze the assets of Iranian Energy Minister Majid Namjoo as part of a series of tough new sanctions against Tehran over its disputed nuclear programme.

The EU said the minister, who also faces a travel ban, was included on an EU blacklist "because he is a member of the Supreme National Security Council which sets Iran's nuclear policy."

Some 34 official bodies and companies were added to the already long EU sanctions list, including the oil and energy ministries plus the National Iranian Oil Company (NIOC) and many of its units.

State-owned NIOC "provides financial resources to the Iranian government," while several senior government officials serve on its board and management, the EU said in its Official Journal.

EU foreign ministers on Monday agreed a slew of tough new financial and trade sanctions on Iran aimed at forcing it to return to stalled talks on its contested nuclear programme.

The ministers condemned Iran's continuing production of enriched uranium and said Tehran was in flagrant violation of its international obligations by refusing to fully cooperate with the International Atomic Energy Agency.

Tehran insists it has no ambitions to build a nuclear weapon but global powers fear that it will ultimately do so, destabilising the whole region and risking a confrontation with Israel.

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Argentine curbs hit Chilean methanol plant
Punta Arenas, Chile (UPI) Oct 15, 2012
Further reductions in Argentine natural gas supplies to a southern Chilean methanol plant have forced the Canadian company to lay off 48 workers and move some operations to the United States. Argentina is accused of reneging on a gas supply contract dating to the 1990s which, according to Argentine officials, is no longer feasible because Argentina needs the gas for its own domestic use ... read more


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