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EU Sanctions Iran 

Meeting in Brussels on July 26, EU Foreign Ministers adopted a comprehensive package of restrictive measures against Iran, implementing UN Security Council Resolution 1929 requirements as well as accompanying measures targeting people, companies and sectors directly involved in Iran's nuclear program and other areas. The measures, which entered into effect on July 27, will be applied particularly to Iranian banks, the Islamic Revolutionary Guard Corps and the Islamic Republic of Iran Shipping Lines. "We sent quite a powerful message to Iran," stressed EU High Representative for Foreign Affairs and Security Policy Catherine Ashton. "Its nuclear program is giving us problems. We invite Iranians to return to the negotiating table." Read more; Additional; EU Legislation; More EU Legislation; Background 

EU High Rep. Ashton on New EU External Action Service

Following the July 26 decision by the Council of the European Union to establish a new European External Action Service, EU High Representative Catherine Ashton writes in the Wall Street Journal that "our aim is to do foreign policy in a modern way, differently and better. Not to compete with or duplicate what our Member States are doing, but to add value and play to our strength of acting as a union. That is how we can best make a difference on the ground and, over time, enhance global security and stability." Read more

EU-Wide Bank Stress Test Results

The Committee of European Banking Supervisors (CEBS), the European Central Bank (ECB) and the European Commission has issued a joint statement welcoming the publication of the results of the EU-wide stress-testing exercise of banks. "We support, in particular, the transparency of this exercise, given the specific market circumstances under which banks currently operate," read the statement. "We therefore welcome the publication of banks' individual results, particularly their respective capital positions and loss estimates under an adverse scenario, as well as detailed information on banks' exposures to EU/EEA [European Economic Area] central and local government debt. Such disclosures ensure transparency regarding conditions in the EU banking sector." Read more; CEBS; Q&A; Background