European Union foreign ministers imposed fresh sanctions on Iran on Monday, British Foreign Secretary William Hague said.
The sanctions come because of Iran's "defiance of six U.N. Security Council resolutions and its refusal to enter negotiations over its nuclear program," Hague said in a statement from Brussels, Belgium.
Details of the sanctions will be available as soon as legal formalities are completed, said Maja Kocijancic, a spokeswoman for EU foreign policy chief Catherine Ashton.
The EU was considering an embargo on buying Iranian oil, as well as restrictions on Iran's trade in gold and precious metals and a freeze on certain Iranian financial assets.
Iran exports 2.2. million barrels of oil a day, with about 18% bound for European markets, according to the U.S. Energy Information Administration. The world consumes about 89 million barrels of oil per day.
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