EU Agrees On Iran Oil Embargo As Part Of Nuclear Sanctions October 27, 2011: European Council President Herman Van Rompuy, right, and European Commission President Jose Manuel Barroso participate in a media conference after an EU summit in Brussels. BRUSSELS - European Union nations have agreed on an oil embargo against Iran as part of sanctions over its nuclear program. Diplomats said in Brussels the EU foreign ministers later Monday would officially adopt the measures that were hashed out by the 27 ambassadors. The measures include an immediate embargo on new contracts for crude oil and petroleum products while existing ones are allowed to run until July. "I am confident that the EU will give a resolute answer today to Iran's refusal to fulfill its international obligations on the nuclear program," German Foreign Minister Guido Westerwelle said ahead of the official adoption by the foreign ministers. Iran says its nuclear program is exclusively for peaceful purposes. But many international officials fear the country is trying to develop nuclear weapons.