Wednesday, 15 February 2012

Iran Oil Ministry Denies State Media Reports on EU Oil Stop

Iran's Oil Ministry on Wednesday denied state media reports that the Islamic state stopped making crude exports to six European countries."We deny this report ... If such a decision is made, it will be announced by Iran's Supreme National Security Council," a spokesman for the ministry told Reuters.

Iran's English language Press TV had earlier said Tehran has stopped exporting oil to France, Portugal, Italy, Greece, Netherlands and Spain.

Iran's English-language Press TV had reported earlier on Wednesday that the country had stopped oil exports to six European states in retaliation for European Union sanctions imposed on the Islamic state's key export.

"Iran cuts its oil exports to six European countries," Press TV reported.

Press TV said Iran had stopped exporting oil to Netherlands, Greece, France, Portugal, Spain and Italy.

Brent crude oil prices [LCOCV1 Loading... () ] 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 beginning on 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.

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