The European Union will meet Monday to finalize the EU-wide oil embargo on Iran that will go into effect on July 1st to convince Iran to stop is nuclear program. And the ban might also cover sanctions on precious metals and diamonds, including banning the delivery of new coins and banknotes.
Iran claims that negotiations are the only way to reach a solution and that sanctions will not help… What are your thoughts? Are sanctions effective? Should they be used in this case? Why include precious metals and diamonds?