Iran vows to defy new sanctions

TEHRAN — Iran vowed on Tuesday to press ahead with its nuclear programme as it condemned tough new sanctions aimed at forcing it to resume talks with world powers about its controversial atomic drive.The European Union slapped fresh sanctions on Iran's key energy sector on Monday in a bid to halt its sensitive uranium enrichment programme. Canada followed suit, and the United States said the punitive steps would bite."These sanctions will not help in resuming talks and will not affect Iran's determination to defend its legitimate right to pursue a peaceful nuclear programme," foreign ministry spokesman Ramin Mehmanparast.The punitive measures would "not help in advancing the talks," he said, as quoted by the official IRNA news agency on Tuesday. The EU sanctions follow similar measures meted out by the United States by going beyond a fourth set of UN sanctions imposed on June 9 over Iran's refusal to freeze uranium enrichment.They are aimed at reviving stalled talks between Iran and six world powers -- Britain, China, France, Germany, Russia and the United States.Among their measures are a ban on the sale of equipment, technology and services to Iran's energy sector, and steps to hit activities in refining, liquefied natural gas, exploration and production, EU diplomats said.New investments in the energy sector were also banned.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 domestic demand. The Iranian banking sector was also hit by restrictions, forcing any transactions of more than 40,000 euros (52,000 dollars) to be authorised by EU governments before they can go ahead.Iran also has the world's second-largest reserves of natural gas after Russia, but the development of its giant gas fields has been delayed due to a lack of investment in a country faced with severe gas needs of its own and because of difficulties in procuring the required technology.Several top global energy majors have already quit

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