Tuesday, February 21, 2012

EU oil flow conditional on payment guarantee, long-term deals: Iran

Tehran says it will cut oil exports to six European countries in reaction to EU oil ban on Iran.

Source: Press TV

Foreign Ministry spokesman says Iran will only continue exporting oil to the European Union if the member states give a guarantee to pay the price and sign medium- and long-term oil purchase contracts.

After EU foreign ministers decided to ban the import of Iran's oil by member states in their January 23 meeting, Iran said it would cut oil exports to six European countries, including the Netherlands, Spain, Italy, France, Greece and Portugal.

The country officially announced on February 19 that it would sell no more oil to the British and French companies.

Speaking in his weekly briefing on Tuesday, Ramin Mehmanparast said although Iran intends to continue oil trade with the EU states, it now requires those countries to provide guarantee for the payment of the oil price.

“They [EU members] must also sign medium- or long-term contracts covering periods of three to five years [for importing Iran oil] and ban our country's oil customers from unilaterally canceling their contracts,” he added.

The official added that these conditions will guarantee 3-5-year oil cooperation between Iran and Europe and ensure both sides’ interests.

Mehmanparast stated that the EU’s decision to ban Iran oil imports has been illogical and against the mutual interests of Iran and the European Union.

“It seems that the European countries have been forced to make this option [banning Iran oil imports] under political pressures from the US and the Zionist regime [of Israel], but this pressure will actually affect the European people and companies, putting them in dire conditions,” he said.

The spokesman said the approach taken by the UK and France toward Iran has been more hostile than that of other EU members and this is why Iran has started with London and Paris when cutting oil imports to Europe.

“They must know that our country is in a position which must be talked to and treated on equal standing and through mutual respect, and they must forget about their past empires and exploiting other countries,” he said.

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