Iran cuts oil to six EU countries


Iran cuts oil to six EU countries

Telegraph

February 15, 2012

Iranian state TV says Tehran has cut oil exports to six European countries in response to European Union sanctions, which include a boycott of new oil contracts with Iran.

No details were immediately made available on the Press TV report on Wednesday, including which six nations were affected by the decision.

The move comes days after Iran’s oil minister, Rostam Qassemi, said Tehran could cut off oil exports to “hostile” European nations as tensions rise over the Islamic Republic’s nuclear program.

Iran argues that the EU oil embargo will not cripple its economy, claiming that the country already has identified new customers [India, Japan,China]. European sales account for about 18 percent of Iran’s total crude exports.

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