The European Union has developed a new sanctions mechanism against Iran over the potential closure of the Strait of Hormuz, according to a decision by the EU Council.
The EU Council decided to expand restrictive measures against Iran for its military support to Russia. The new sanction regime will also target organizations and individuals linked to Iran's actions threatening freedom of navigation in the Middle East.
The EU Council considers Iran's moves in the Strait of Hormuz as contrary to international law. No specific measures have been implemented yet under the new mechanism, but future sanctions will include entry bans into EU territory and freezing of financial assets.
