Sunday, February 19, 2012

Exports cut to Britain, France, Iranian Oil Ministry says

Via NC Renegade

Iran has halted oil shipments to Britain and France, the Oil Ministry said Sunday, in an apparent pre-emptive blow against the European Union after the bloc imposed sanctions on Iran's crucial fuel exports.

The EU imposed tough sanctions against Iran last month, which included a freeze of the country's central bank assets and an oil embargo set to begin in July. Iran's Oil Minister Rostam Qassemi had warned earlier this month that Tehran could cut off oil exports to "hostile" European nations. The 27-nation EU accounts for about 18 percent of Iran's oil exports.

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