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Page added on February 19, 2012
Iran cuts off oil supplies to Britain, France
The move was confirmed by the country’s Oil Ministry, with the spokesman saying that Iran will be “selling its oil to new customers”.
The statement has been posted on the Ministry’s shana.ir website.
It appears to be a response to the European Union decision to ban Iranian oil imports, as part of ongoing sanctions designed to force the Islamic Republic to give up its controversial nuclear program.
Earlier this month, Iran’s Oil Minister said that the country would cut its oil exports to “some” European countries.
“We have our own customers … The replacements for these companies have been considered by Iran,” Nikzad said.
News of Iran cutting supplies to six EU member states caused a lot of concern in Europe – and in the world’s markets, with Brent oil price jumping above $120 a barrel following the reports.
The EU oil embargo was phased so member states that were relatively dependent on Iranian crude – like Italy, Spain, and Greece – had enough time to find alternative sources.
The bloc currently buys about 18% of Iran’s oil exports. Iran is the world’s 4th largest oil supplier, with China, Japan, and India its largest buyers.
7 Comments on "Iran cuts off oil supplies to Britain, France"
BillT on Sun, 19th Feb 2012 3:02 pm
“touche!” ( used to acknowledge a hit in fencing )
Seems that Iran is not going to go quietly into the night like the Empire wishes. Now we will see what happens when the shoe is on the other foot. If I remember correctly, it is still winter in Europe. Brrrrr!
Gale Whitaker on Sun, 19th Feb 2012 3:57 pm
Any event that causes the price of oil to increase is good. It means that a smaller amount of CO2 will be spewed into the atmosphere, fewer SUVs will be sold, more people will ride the bus, and at least a few people will be alerted to the fact the price of oil is by far the most critical problem facing our civilization. When the price of oil increases enough even the consesrvatives among us will have to agree that the status quo is not going to work anymore.
Arthur on Sun, 19th Feb 2012 4:55 pm
Iran is playing this card from strength. The Chinese will be happy to rebuild the country after the predictable anglo-israeli bombing campaign. Maybe we are going to see headlines soon reporting of massive Chinese troop deployments in Iran and installation of anti-aircraft batteries.
@Gale – CO2 is not the problem. Even Richard Heinberg has said not to worry too much about CO2 if you are a peak-oil believer. But the key to survival with the least amount of pain is to start the proces of demand destruction as soon as possible so we can use the remaining fossil fuels to set up a new, much more modest energy base.
Arthur on Sun, 19th Feb 2012 4:58 pm
@Bill – winter is over now, but it was severe with many hundreds of deaths in Eastern Europe. Good reminder of the importance of having your house warmed.
DC on Sun, 19th Feb 2012 5:12 pm
And what so senseless about this whole thing is, Iran was afaik, as reliable energy supplier to the EU, and was not causeing them any issues. This whole affair is being driven by amerikan lies and propaganda. Although it is interesting to note the countries being cut off are the ones in the biggest trouble fiscally atm. Maybe the real reason is they just cant pay they just cant pay their bills anymore? Again, if the EU would grow a spine and tell the amerikans to shove off, none of this would even be happening.
Rick on Sun, 19th Feb 2012 8:37 pm
DC wrote: This whole affair is being driven by amerikan lies and propaganda.
@DC, you’ve got that right!
Kenz300 on Tue, 21st Feb 2012 12:50 am
And we continue to rely so much on oil from the unstable middle east…….
Every country needs to look at the risks and develop a plan to become more energy self sufficient or at least diversify their sources and types. Wind, solar, wave energy, geothermal and second generation biofuels made from algae, cellulose and waste can diversify the risk. The world produces a lot of trash every day. That trash can now be turned into biofuel, energy (methane) and raw materials for new products. We can reduce landfill space and produce energy locally. Local energy production reduces risk of a cut off from unfriendly governments.