QR codeQR code

EU may review the oil embargo plan against Iran

20 Apr 2012 - 20:20

The bloc may review in the next two months an oil embargo plan against Iran that is scheduled to take effect from July, a senior EU official was quoted as saying on Friday.

EU member states had agreed to review the embargo plan as soon as this month because of concerns over its potential impact on global crude oil prices and the difficulty countries such as Greece face in finding alternative supplies, but they have now postponed that review and will examine the issue during May or June instead, Reuters reported.

Iran’s oil minister Rostam Qasemi said on Thursday that if sanctions imposed by the 27-nation bloc would not be lifted by the next round of nuclear talks in Baghdad, Iran will extend its cutoffs in oil sales to the European Union and this would seriously turbulent the energy market.

Iran's Foreign Minister Ali-Akbar Salehi also stated that "if the West wants to build trust in the process of resolving Iran's nuclear issue, they'd better start from lifting sanctions since this will speed up the process of coming to terms."

But, Western diplomats say any change in sanctions is out of the question until Iran takes concrete steps to ease Western concerns about its nuclear ambitions.


Sources: Press TV

Story Code: 2194

News Link :

The Iran Project