By Sara Malm PUBLISHED: 11:34 EST, 15 October 2012 | UPDATED: 11:34 EST, 15 October 2012 The European Union is imposing new sanctions against Iran in a bid to force the country to come clean about its nuclear programme A meeting of EU foreign ministers imposed restrictive measures intended to hit the country's treasury and increase pressure on its Islamic regime headed by President Mahmoud Ahmadinejad. Iran is still refusing to cooperate fully with the International Atomic Energy Agency regarding its nuclear programme, something which today’s Luxembourg meeting said was ‘acting in flagrant violation of its international obligations.’ Worry: Both German Foreign Minister Guido Westerwelle, left, and Britain's William Hague spoke positively about the sanctions imposed at today's EU meeting in Luxembourg
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Raised fear Iran is developing nuclear weapons as it refuses to come clear about its programme
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Luxembourg meeting of EU foreign ministers impose restrictions against trade in oil and gas
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A statement said Iran was ‘acting in flagrant violation of its international obligations'
The EU ministers also agreed to prohibit all transactions between @placeholder and Iranian banks unless they were authorized in advance for humanitarian reasons.