The European Union indicated yesterday that it will increase sanctions against Iran in response to the Islamic Republic’s nuclear activities.
AFP quoted diplomatic sources saying the EU will add more than 100 companies to its list of sanctioned firms.
The official statement regarding the sanctions is expected on Monday.
The European-Iranian Trade Bank (EIH), a German-based Iranian bank, is also included in the list for its alleged involvement in secret nuclear activities.
Five individuals who essentially work as managers at the affected firms will have their foreign assets frozen and be banned from travel to Europe.
Last June, the UN passed a fourth resolution imposing sanctions on Iran for its refusal to halt its uranium-enrichment program.
The sanctions authorized the inspection of Iranian vessels at high-sea and added 40 names to a list of people and firms subject to travel and trade restrictions.
EU foreign policy chief Catherine Ashton and U.S. Secretary of State Hillary Clinton said this week in Washington that Iran must show it is serious about addressing international concern over its nuclear objectives.
Iran has consistently maintained that its nuclear activities are peaceful and aimed only at energy production.