Feb 16
Iran threatens to suspend oil sales to the European Union
Confusion will be enough oil to burn in minutes. Brent crude rose from $ 118 to $ 120 Wednesday at 13:30, while news agencies, citing the Iranian television channel Press TV evoked an immediate suspension of Iranian oil sales in six European countries including France, Greece, the Italy and Spain.
Finally, according to Al-Alam, Tehran has only "warned" that could disrupt its sales in retaliation for the embargo imposed on 23 January by the European Union (EU). But it will not do "for now and for humanitarian reasons because of the cold," said Al-Alam. Six European ambassadors were received by the Director for Western Europe of the Ministry of Foreign Affairs, Hassan Tajik them said his country had found "other buyers". At 14:30, a barrel of Brent crude in London fell back side around 118.40 dollars. By climbing a few moments to 120 dollars a barrel returned to a level reached last summer, also close off the hook early 2011 highs at the beginning of the Libyan war.
Embargo unprecedented EU
The foreign ministers of the European Union adopted on January 23 a series of new economic sanctions against Iran, suspected of developing nuclear weapons program. An embargo "progressive" on imports of Iranian oil has been decided. The bill provides that existing contracts can be implemented until July 1. A delay obtained at the request of the European countries most dependent on Iranian crude, beginning with Greece, which buys 30% of its oil to the regime of Mullah, followed by Italy (13%) and Spain (12% ). Twenty-Seven took weeks to agree on the sanction regime. France for its part does not buy that about 3% of its black gold to Iran.
The progressive nature of the embargo would allow European countries to compensate for expected losses by supplies provided mainly by Saudi Arabia pledged to pump more crude. While Tehran, contrary to the statements of its leaders, is not guaranteed to sell its Asian customers that the oil would be shunned by Europe, the Islamic regime wants to use short-term increases in financial income generated by each spike courses. And perhaps divisions among its customers more or less vulnerable.
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