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Syria-Lebanon-Iran
Iran threatens to cut oil to "whole Europe"
2012-04-21
Claims to have alternative buyers

Iran will cut oil export to all European countries if they do not lift sanctions on Tehran after the next round of talks in Baghdad, country's Oil Minister Rostam Qasemi said on Thursday, Mehr reported.

Qasemi said the Oil Ministry has "officially" cut crude exports to Britain and France, however, he added a stop of Iran's oil export to refiners in Greece, Spain, and Germany is not "official". He added that Greece is paying a large sum of its oil debts to Iran.

The minister went on to say that the National Iranian Oil Company (NIOC) has signed new contracts with some customers so that if oil export to Europe is halted completely Iran will have alternative buyers.
Posted by:Steve White

#3  Refusing to sell to people who refuse to buy your stuff, eh? It's the economic version of "You can't fire me. I quit!"
Posted by: SteveS   2012-04-21 18:40  

#2  Iraq is subsidizing Iran by allowing it to tap into its reserves to the tune of billions of dollars. The Rial fell by 70% compared to the dollar last month, yet Iran seems unconcerned.
I suppose if your belligerency is being subsidies by your coreligionists next door you can keep going for a long time
Posted by: tipper   2012-04-21 14:00  

#1  Maybe Europe will wake up and get mildly excited. Nah.
Posted by: JohnQC   2012-04-21 10:34  

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