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File photo shows an Iranian oil worker repairs a pipe at an oil refinery in Tehran
File photo shows an Iranian oil worker repairs a pipe at an oil refinery in Tehran
Image: Vahid Salemi/AP/Press Association Images

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.
Feb 20th 2012, 2:13 PM 1,685 18

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.

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Associated Press

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