Oil price rises after Iran halts exports to Greece, France, Spain, Netherlands, Portugal and Italy in return for nuclear sanctions
Iran has stopped oil exports to six European states in retaliation for European Union sanctions imposed on the Islamic state’s key export, its English-language Press TV has reported.
“Iran cuts its oil exports to six European countries,” Press TV reported.
Press TV said Iran has stopped exporting oil to Netherlands, Greece, France, Portugal, Spain and Italy.
Brent crude oil prices 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 from 1 July over its disputed nuclear programme, which the west says is aimed at building bombs. Iran denies this.
Iran’s oil minister said on 4 February that the Islamic state would certainly cut its oil exports to “some” European countries.
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