04/21/12

Permalink Iran Warns of Oil Cuts to Europe

TEHRAN (FNA)- Iran's Oil Minister Rostam Qassemi raised the prospect of more cutoffs in oil sales to the European Union if the bloc failed to show some flexibility toward Iran ahead of a second round of nuclear talks next month. - Qassemi said that while Iran has cut sales to Britain and France, it continues selling crude to "other countries" in the world. In the last days of 2011, Washington imposed new sanctions on Iran to penalize countries for importing Iranian oil or doing trade with its central bank. The US extraterritorial laws and pressures forced the EU member states to ratify in their meeting on January 23 and after months of debates to sanction oil imports from Iran and freeze the assets of Iran's Central Bank within the EU. The Iranian oil ministry in a statement in late January downplayed the effects of the US and EU's unilateral oil sanctions against Tehran, and said such embargoes will merely harm the European economies and oil consuming countries.

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