Danes back 6-month oil embargo delay

European Union president Denmark has proposed EU states embargo imports of Iranian crude oil from 1 July, allowing a grace of nearly six months for existing contracts.

EU governments have already agreed in principle to a ban on Iranian crude as part of western efforts to ratchet up pressure on Tehran over its nuclear programme.

The compromise proposal aims to appease concerns among some of the EU’s 27 governments about the impact of a ban after two years of debt turmoil.

Under the Danish proposal, EU states would have until the end of June to fulfil contracts once an embargo is imposed, but would have to cease imports by July.