Brussels, 23/01/2012 (Agence Europe) - EU foreign ministers decided on Monday 23 January to impose a phased embargo on Iranian oil and oil products in view of Tehran's nuclear programme. The measures agreed relate to the import, purchase and transport of crude oil and oil products and to the banking and insurance sector activities related to the oil industry. They provide for an immediate ban on any new contracts and a transition phase, until 1 July 2012, for cancelling existing contracts. A...