EU Iran sanctions: Ministers adopt Iran oil imports ban

European Union foreign ministers have formally adopted an oil embargo against Iran over its nuclear programme.

The sanctions involve an immediate ban on all new oil contracts with Iran and a freeze on the assets of Iran's central bank within the EU.

The EU currently buys about 20% of Iran's oil exports.

There was no official reaction from Iran, but one Iranian lawmaker played down the decision, describing it as a "mere propaganda gesture".

James Reynolds reports from Dubai.