EU Oil Sanctions to Increase Iran's Oil Revenues $10bln
The illegal decision taken by the European Union to impose an oil ban on Iran which led to a 20-dollar hike in crude prices will add a sum of, at least, $10bln to Tehran's oil revenues. - One month after the EU decision to impose an oil ban on supplies from Iran, many international energy analysts have come to describe the decision as an inexperienced and immature move which will hit a heavy blow to the EU nations and inflict huge economic losses on the European states. This is while the price of Iran's oil has reached $125 in recent days which shows a 20-dollar increase in one month. Analysts also predict that crude prices in the world will further witness increase in the coming months.