Iran cuts oil export to 6 European states

Why not the UK?
And why the greeks, the poor bastars are having a hard time at the minute. Unless they are trying to further cripple Europe and realise the UK arent realy part of Europe so their is no gain for them to stop our oil.


Book Reviewer
here y'go...

Iran Warns 6 Countries in Europe It Will Cut Off Oil
Besieged by international sanctions over the Iranian nuclear program including a planned oil embargo by Europe, Iran warned six European buyers on Wednesday that it might strike first by immediately cutting them off from Iranian oil.

Iran’s official Islamic Republic News Agency said the threat was conveyed to the ambassadors of Italy, Spain, France, the Netherlands, Greece and Portugal in separate meetings at the Foreign Ministry in Tehran. Officials said in an earlier report by Press TV, Iran’s state-financed satellite broadcaster, that Iran had already cut supplies to the six countries was inaccurate — but not before word of the Press TV report sent a brief shudder through the global oil market, sending prices up slightly.

“Iran warns Europe it will find other customers for its oil,” the Islamic Republic News Agency said. “European people should know that if Iran changes destinations of the oil it gives to them, the responsibility will rest with the European governments themselves.”

Last month the European Union decided to impose an oil embargo on Iran as of July 1 as part of a coordinated campaign of Western sanctions aimed at pressuring Iran to halt its disputed uranium enrichment program, and the Europeans have been making arrangements since then to find other sources.

The European Union has been one of Iran’s biggest markets for oil, taking about 18 percent of total Iranian petroleum exports in 2011. Among the European Union members, the biggest buyers have been Italy, Spain and France.

Iran forecasted in December that a cutoff of Iranian oil could double the global price. But a combination of lower demand because of European economic weakness and ample sources of supply elsewhere have helped cushion the anticipated effects of both the planned embargo and Iran’s threat to stop exporting oil to Europe well before the embargo starts.

Saudi Arabia, the top producer in the Organization of Petroleum Exporting Countries, has said it could compensate for much of the shortfall from Iran, which is OPEC’s second-largest producer. And resurgent production from Libya, long crippled by the conflict there last year, has further added to the total global supply.

The relatively mild effects of the Iranian threat on Wednesday were reflected on prices at the New York Mercantile Exchange, where the March-delivery price for oil closed up $1.06 a barrel on Wednesday to $101.80, a gain of 1 percent.

The sanctions, which have created severe restraints on Iran’s ability to conduct routine banking and shipping operations, have caused severe disruptions to Iran’s economy as the nuclear program remains an increasingly acrimonious issue between Iran and the West.

The Iranian warning came on a day of mixed messages emanating from Iran’s hierarchy about its nuclear program, which Western nations and Israel have called a cover for Iranian attempts to become capable of making a weapon. Iran has said the program is peaceful.

At the same time Iran was warning its biggest European oil buyers, it also announced it was willing to reopen nuclear talks suspended a year ago in a letter to Catherine Ashton, the European Union’s top foreign policy official. The Iranians also announced new advances in their nuclear program, including escalation of Iran’s enrichment practices, which if accurate could serve to further aggravate tensions.

A spokeswoman for Ms. Ashton confirmed receipt of a letter from Dr. Saeed Jalili, who heads Iran’s Supreme National Security Council, sent in response to a letter from Ms. Ashton in October of last year. The spokeswoman, Maja Kocijancic, did not disclose the contents but said “we are carefully studying the letter.”

The Iranian side also did not reveal the letter’s contents, but the Islamic Republic News agency paraphrased Mr. Jalili as saying in the letter that “returning to the negotiation table would be the best means to broaden cooperation between the two sides.”
Maybe they have targetted these countries ( rather than Germany,) because the Iranians believe they will fold the quickest, as already eyebrow deep in the financial clart....
It's all intended to de-stabilise the Euro and make life shit for us,,,Greece goes bump we all suffer....
I thought the countries affected were going to boycott the oil anyway, so all Iran has done is made themselves look as if they are in control and it was their doing.
The Iranians can say and do as they please regarding shutting off oil to named states, but there again, a lot of oil once embarked and at sea in mega tankers is bartered for by different buyers in different countries to the one originally stated on a ships manifest, so no cigar for Mr Admedinnerdad.

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