News / International
Iran, EU embargo to have impact on oil prices
15 Feb 2012 at 11:57hrs | Views
Iran has stopped oil exports to six European states in retaliation for European Union sanctions imposed on the Islamic state's key export, its English-language Press TV reported on Wednesday.
"Iran cuts its oil exports to six European countries," Press TV reported.
Press TV said Iran has stopped exporting oil to Netherlands, Greece, France, Portugal, Spain and Italy.
Brent crude oil prices were up $1 a barrel to $118.35 shortly after the announcement.
The EU's 27 member states have decided to stop importing crude from Iran from July 1 over its disputed nuclear program, which the West says is aimed at building bombs. Iran denies this.
Iran's oil minister said on February 4 that the Islamic state would certainly cut its oil exports to "some" European countries.
"Iran cuts its oil exports to six European countries," Press TV reported.
Press TV said Iran has stopped exporting oil to Netherlands, Greece, France, Portugal, Spain and Italy.
The EU's 27 member states have decided to stop importing crude from Iran from July 1 over its disputed nuclear program, which the West says is aimed at building bombs. Iran denies this.
Iran's oil minister said on February 4 that the Islamic state would certainly cut its oil exports to "some" European countries.
Source - Reuters
