Source: Press TV
Israel and the United Stated have praised the European Union's decision to ban oil imports from the Islamic Republic of Iran.
Israeli Prime Minister Benjamin Netanyahu said that the new sanction is a step in the right direction, but said that such moves are not enough.
Washington said the EU's move keeps more money out of Iran's nuclear energy program.
"It is necessary to pressure Iran very hard and very quickly,” Netanyahu stated.
White House spokesman Jay Carney warned that the process of imposing sanctions will continue to intensify, while US President Barack Obama said, "I applaud today's actions by our partners in the European Union.”
The United States also named Iran's Bank Tejarat as the target of new sanctions on Monday.
Foreign ministers of the European Union reached an agreement on Monday to impose sanctions on Iran's oil imports and freeze the assets of the Central Bank of Iran within the EU.
EU foreign policy chief Catherine Ashton told reporters that the sanctions are meant to pressure Iran to return to the talks over its nuclear program.
The EU has also imposed a ban on the sale of gold, diamonds, and other precious metals to Iran.
Tehran has warned that the embargo will have negative consequences, such as an increase in oil prices.