articleimg-1
Oct 17, 2017

Hungary's FM: EU foreign ministers are set to adopt a proposal for a complete ban on investment and oil embargo on North Korea

Minister Szijjártó also said the EU considers it important to uphold the 2015 Iran nuclear agreement for the sake of its own security as well as that of the region and the globe

Hungary's foreign minister has revealed that European Union foreign ministers are set to adopt a proposal for a complete ban on investment and oil embargo on North Korea.

Péter Szijjártó, minister of Foreign Affairs and Trade, said that under the proposal, discussed at a meeting of the EU’s top diplomats in Luxembourg on Monday, the European Union would also ban the employment of guest workers supporting North Korea’s weapons program.

Minister Szijjártó said it also calls on the EU to lower the threshold for bank transfers requiring approval from 15,000 euros to 5,000 euros. This would be the strictest package of restrictive measures ever adopted by the EU, the minister said.

The minister said Hungary had again repeated its call for the EU to impose its own set of sanctions against North Korea beyond those adopted by the UN Security Council.

Minister Szijjártó also said the EU considers it important to uphold the 2015 Iran nuclear agreement for the sake of its own security as well as that of the region and the globe. 

The minister said Hungary trusts the International Atomic Energy Agency (IAEA)’s monitoring of Iran’s actions in connection with the nuclear deal, noting that the agency had consistently certified Iran’s compliance with the agreement.

He added that Hungary firmly supports joint EU action to preserve the agreement and said this would keep Iran engaged in international cooperation contributing to the region’s stability.

The minister added that if this opportunity to cooperate slips away, Iran would become a destabilizing factor both in and outside its region, which would also pose a security risk for Europe.