Escalation: EU bans oil imports from Iran

Under the deal, the members agreed not to sign new oil contracts with Iran and to end existing ones by July 1, the ministers said in a statement.

The embargo will cover imports of crude oil, petroleum products, and petrochemical products. It will also cover the export of key equipment and technology for the sector.

The assets of the Iranian central bank within the European Union will be frozen with limited exemptions to permit the continuation of legitimate trade, the statement said…

Reinforcing Western diplomacy with a display of military muscle, an American aircraft carrier, the Abraham Lincoln, steamed through the Strait of Hormuz into the Persian Gulf, the U.S. Navy reported on Sunday. The British Ministry of Defense said later that it was accompanied by British and French warships.