The European Union has agreed to ban oil imports from Iran, pending a final decision to be made at the end of the month. <br /><br />Despite Iran's rejection of accusations by Western nations that its nuclear programme is in fact a weapons programme, the EU aims to cut off funding to it. <br /><br />Oil prices have risen on news of the possible EU embargo. But as Libyan oil is starting to flow again it could offset any shortages. <br /><br />Al Jazeera's Caroline Malone reports.
