Wednesday, February 15, 2012

Oil prices jump after Iran says is cutting cut flow to EU



Source: Press TV
http://www.presstv.ir/detail/226827.html

The price of oil in global markets hits a six-month high of nearly USD 120 a barrel as Iran says is cutting oil exports to six European countries.

On Wednesday Iran warned six European states, including the Netherlands, Spain, Italy, France, Greece and Portugal, that it is cutting oil exports unless long term deals are made and payments by EU states are guaranteed.

Brent crude was up USD 1.83 reaching USD119.18 a barrel on Wednesday, the highest price since August 1. This is while US crude climbed by USD1.28 to reach USD102.02.

After on January 23 EU announced plans to impose a ban on purchasing oil from Iran, Iranian Oil Minister Rostam Qasemi said on February 8 that Tehran has decided to halt crude exports to some European states.

EU sanctions will take effect on July 1, 2012, to give the bloc’s member states enough time to adjust to new conditions and find alternative crude oil supplies.

On February 8, 200 Iranian lawmakers signed a statement expressing full support for the Oil Ministry's decision and urged the government to find new markets for Iran's crude.

The United States, Israel, and some of their allies accuse Iran of pursuing military objectives in its nuclear program and have used this pretext to impose international and unilateral sanctions on the Islamic Republic.

Iran, however, maintains that, as a signatory to the Nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it has every right to develop and acquire nuclear technology for peaceful purposes.

No comments:

Post a Comment

Thanks for commenting on this post. Please consider sharing it on Facebook or Twitter for a wider discussion.

Russian / Ukraine War - (Mar 08th, 2024)

How the Ukraine War Changed the World - (Mar 01st, 2024)

Redacted - Egypt's betrayal of Palestine - Vanessa Beeley

CrossTalk | Magical thinking - (Feb 28th, 2024)

Hillary Clinton Interrupted & Called Out in Berlin

We don’t want war with Israel, but if they impose it on us, we are ready – Hezbollah

ICJ delivers ruling in favour of South Africa

ICJ ruling | Court stops short of ordering Gaza ceasefire, demands that Israel prevent genocide

South Africa's Closing Argument Against Israel for Genocide at the ICJ

Wider Middle East war. US, UK strike Yemen

U.S., UK Start Another Unwinnable War In Yemen

Geopolitical Storm Brewing from Palestine to Ukraine

How the US Global Order is Challenged - With Pepe Escobar (Nov 20, 2023)

Shahid Bolsen - Message to the Israeli people

Roger Waters - To Whom It May Concern: Please Stop.

US policy slowing down China's economy w/ Jeffrey Sachs

Max Blumenthal s destroys RFKJr's outrageous Israelí Propaganda

Totalitarianism, Censorship and Syria with Peter Lavelle, Vanessa Beeley & Kevork Almassian

Putin shows treaty on Ukraine’s neutrality, signed by Kiev but dumped under Western pressure

Assad's speech at the Arab League Summit - what it means for the future of the region

Assad returns to Arab League

HUGE China brokered deal, Iran & Saudi Arabia restore diplomatic ties

Nord Stream pipeline & sabotaging peace w/Jeffrey Sachs

The Tragedy of Ukraine

Historical Events that Led to the Start of the Ukraine Conflict

Your Wars Will Destroy the Planet - Roger Waters

Healthy Athletes suffer Heart Problems After Getting the Jab