Iran threatens to cut oil exports to more countries

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IANS/RIA Novosti | 21 Feb, 2012
Iran has threatened to stop exporting oil to more European countries -- Germany, Spain, Italy, Greece, Portugal and the Netherlands -- if they continue to take actions directed against Tehran."Certainly if the hostile actions of some European countries continue, the export of oil to these countries will be cut," Deputy Oil Minister Ahmad Qalebani was quoted as saying by the Al Arabiya network.

Iran halted oil exports to France and Britain Sunday.

The National Iranian Oil Company (NIOC) has sent letters to a number of European oil refining concerns, reported Iranian news agency Mehr.

The letters were "an ultimatum" to either sign long-term contracts -- for a period of two to five years -- or be deprived of supplies. Mehr did not specify which companies received the letter.

Foreign ministers and leaders of 27 EU countries approved a boycott on oil supplies from Iran at a meeting in Brussels Jan 23. They agreed to end all oil imports from Iran by July 1.

Greece, Italy and Spain are the European countries most dependent on oil imported from Iran.

Qalebani warned in January that the EU embargo would push up oil prices to USD 150 per barrel.