The European Union (EU) announced new restrictive measures on Iran over its nuclear program in a conclusion made by its one-day summit on Thursday. New restrictive measures have become 'inevitable,' said the conclusion, during which the European Council invites the foreign affairs council to adopt measures implementing those contained in the UN Security Council Resolution 1929 as well as accompanying measures. These measures focus on the areas of trade, especially dual use goods and further restrictions on trade insurance, and the financial sector, including freeze of additional Iranian banks and restrictions on banking and insurance. The Iranian transport sector, in particular the Islamic Republic of Iran Shipping Line and its subsidiaries and air cargo, along with key sectors of the gas and oil industry with prohibition of new investment, technical assistance and transfers of technologies, equipment and services related to these areas, are all included in the package of restrictive measures. New visa bans and asset freezes especially on the Islamic Revolutionary Guard Corps are also targeted by the conclusion. Meanwhile, the summit confirmed once again the commitment of the EU to work for a diplomatic solution of the issue of Iran's nuclear program, calling on Iran to demonstrate willingness to build the confidence of the international community and to respond to the invitation for resumption of negotiations, and reaffirmed the validity of the June 2008 proposals made to Iran. 'What is needed is a serious negotiation about Iran's nuclear program and other issues of mutual concern,' said the conclusion. 