EUROPEAN UNION

European companies owed oil by Iran could lose out should Tehran impose a ban on crude exports to the European Union next week, the head of Iran's state oil company said Saturday. Iran's parliament is due to debate a bill Sunday that would cut off oil supplies to the EU in a matter of days.

Irish voters would narrowly back a proposed European Union treaty to tighten budget rules if it were put to a referendum, an opinion poll showed on Saturday, but about one-quarter of those questioned said they were still undecided.

Greece and its private creditors said on Saturday they were piecing together the final elements of a debt swap, and they expected to have a deal ready next week, which would be essential for sealing a new bailout and avoiding an uncontrolled default.

Fighting sanctions with sanctions in a test of strength with the West over its nuclear ambitions, Iran warned on Friday it may halt oil exports to Europe next week in a move calculated to hurt ailing European economies.

Japan and South Korea are Iran's third and fifth biggest oil customers, but the United States, looking for international support for new sanctions pressuring Iran's oil sector, would like that to change.

The European Union is deliberating on a €150 million ($197 million) aid package for Myanmar, according to the latest report.

Ahmadinejad is the highest Iranian government official thus far to offer to re-start the talks.

Greece's tortuous negotiations over a debt swap with private creditors entered a new phase on Thursday with focus on how much the European Central Bank and other public creditors may need to contribute.

Throughout all of Europe we have seen the rise in the polls of extreme right political parties.

Greece resumes tortuous negotiations on a debt swap with private creditors in Athens on Thursday, with all eyes on the European Central Bank after IMF chief Christine Lagarde said public sector holders of Greek debt may need to take a haircut too.

China Thursday criticized the European Union for banning oil imports from Iran, Beijing's third biggest crude supplier and a major trading partner.

David Cameron says Doha world trade talks dead and urges 'coalition of the willing' with bilateral deals between countries.

Even as Greece works towards an agreement with private sector investors to meet their debts, the S&P warned that Greece is likely to enter into default.

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Tensions in the already heated Strait of Hormuz in the Persian Gulf rose again on Tuesday when Britain said it was considering sending more military assets to the area.

Turkey's ambassador to France Tahsin Burcuoglu told reporters he was saddened by the vote.

On the same day that it imposed new sanctions on Iran, the European Union dropped some of its restrictions against the government of Burma.

Mehmanparast also intimated that the EU is simply bowing to pressure from the United States,

Which countries buy the most Iranian oil and what does it mean for the international community's attempt to stop Iran's nuclear program?

Lavrov also said he hopes that negotiations with Iran over its nuclear ambitions can re-start soon.

Accusing the Arab League of attempting to interfere in internal government affairs, Syria rejected a call for President Bashar al-Assad to step down, just as the European Union tightened sanctions on the country.