BRUSSELS: The European Union is expected to expand its sanctions significantly against Iran Monday, reflecting growing frustration among Western powers with a lack of progress in nuclear talks with Tehran, EU diplomats said. The EU's 27 governments are expected to approve the addition of around 100 companies to the bloc's embargo list — including German-based bank EIH, which specialises in business in Iran — at a meeting in Brussels. “There is a list of about a 100 companies, to be added to the EU sanctions Monday,” said one EU diplomat told Thursday. Another added: “Among those companies is the European Iranian Bank,” he said, referring to EIH (Europaeisch-Iranische Handelsbank or European-Iranian Trade Bank). “There would now be enough evidence that the bank financed companies involved in Iran's nuclear program.” Western powers say they suspect Iran is trying to develop atomic weapons under the cover of its declared civilian nuclear energy programme. Tehran says it needs nuclear power to meet a growing domestic demand for electricity.
