Iran says it may extend oil cut to more EU countries

Iran halted oil shipments to Britain and France yesterday, in an apparent pre-emptive blow against the EU after it imposed sanctions on Iran’s crucial fuel exports.

AN IRANIAN semiofficial news agency says Tehran is considering extending its oil embargo on France and Britain to other European countries.

The Monday report by Mehr quoted head of the National Iranian Oil Company Ahmad Qalehbani as saying that Tehran may stop crude exports to European Union members that continue “hostile acts” against Iran.

Qalehbani predicts that oil prices could possibly pass $150 per barrel, without specifying when.

Oil prices jumped to a nine-month high of nearly $105 a barrel on Monday in Asia after Iran announced the halt on exports to Britain and France.

Iran imposed the cuts pre-emptively in retaliation for EU sanctions scheduled to go into effect in July to pressure Tehran over its controversial nuclear programme.

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

For the price of one cup of coffee each week you can make sure we can keep reliable, meaningful news open to everyone regardless of their ability to pay.

Support us Learn More