Business at Malta Freeport will not be affected by new sanctions against Iran imposed by the European Union today.
There had been serious concerns that the sanctions would affect Iranian shipping lines which account for 10% of throughput at Malta Freeport.
The European Union imposed the new sanctions as it cranked up pressure on Tehran to resume talks on its disputed nuclear programme.
The EU measures include a ban on the sale of equipment, technology and services to Iran's energy sector, hitting activities in refining, liquefied natural gas, exploration and production, diplomats said.
There is also a prohibition on new investments in the energy sector.
The European sanctions are part of a dual-track approach, with Baroness Ashton seeking to revive moribund talks between Iran and six world powers -- Britain, China, France, Germany, Russia and the US.
"We want to see dialogue on nuclear weapons capability to start as soon as possible in order to reach an agreement," Ashton told reporters ahead of a regular meeting of EU foreign ministers in Brussels, which was attended by Dr Borg.
"Until we get to that point we will continue to take our responsibilities seriously... (The) purpose of those sanctions is to persuade Iran, 'we need to discuss this issue, and move forward,'" Ashton said.
Western powers have demanded that Iran suspend its uranium enrichment programme, fearing that Tehran would use the material to build a nuclear bomb. Tehran says its atomic programme is a peaceful drive to produce energy.
The new EU sanctions follow a similar move by the United States against Iran's energy sector.
Iran is the world's fourth largest producer of crude oil, but imports 40 percent of its fuel needs because it lacks enough refining capabilities to meet demand.
The unilateral US and EU sanctions are "expected to have a material impact on the country's energy industry," the International Energy Agency said last week.
The Foreign Ministry said that Dr Borg's talks with Baroness Ashton mainly focused on Malta’s role in the Union for the Mediterranean and the strengthening of the European Commission-League of Arab States Liaison Office, which was inaugurated in Malta last October and the situation in the Middle East”.
During the meeting of the Foreign Affairs Council , Dr Borg intervened on the issue of the Middle East Peace Process, stating that two visits by a High Representative of the European Union to the region over a number of months represented an expression of the genuine interest shown by the Union. Furthermore, Dr Borg referred to the recent visit by Israeli Foreign Minister Liebermann to Malta.
He said that the Israeli Foreign Minister had invited a group of EU Foreign Ministers to visit the region.
Dr Borg, was accompanied by Malta`s Permanent Representative to the European Union, Ambassador Richard Cachia Caruana.
See also
http://www.timesofmalta.com/business/view/20100624/news/eu-sanctions-could-ban-irans-shipping-line-from-malta-freeport