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Iran Cuts Oil Sales to Greece

Iran’s oil minister says the country has halted oil sales to Greece. It’s the latest European country hit with Iran’s pre-emptive retaliation over an EU embargo that is to go into effect in July and that was imposed over Tehran’s controversial nuclear program.

The West suspects Tehran of pursuing nuclear weapons, a charge Iran denies.

The official IRNAnews agency on Tuesday quoted Oil Minister Rostam Ghasemi as saying that “for the time being, Iran is not selling oil to Greece. ”

He says the two countries have not reached an agreement for the resumption of crude exports. He did not elaborate.

Earlier in April, Iran said it had stopped selling oil to 2 Greek oil companies because they failed to pay their bills.

Iran has already imposed oil embargoes on Britain and France.

According to  sources, Greece would import oil from Middle East, North Africa and Russia  in order to cover its needs due to Iranian embargo. Iran exported to Greece 100,000 barels per day in 2001. Greece covers its needs for crude oil from Iran at 25% (data 2011).

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