EU nations have approved new sanctions against Iran, imposing additional financial and travel restrictions on a list of Iranian companies and experts. But don't expect the European Union, China, Russia or the United States to agree anytime soon to tougher sanctions that would ban oil and gas exports from Tehran in response to its nuclear program plans.

On June 23, EU officials stressed the importance of the 27-nation bloc's "carrot and stick" approach, which Europeans feel Western powers should continue as they try to sway Iran from plans to build nuclear weapons.

They acknowledged that any agreement on harsher energy sanctions, which could further push up energy prices, would be hard to reach, both within the bloc and with powers like China or Russia.