Fin24

EU could review Iran oil ban 'soon'

2012-04-20 12:14

Brussels - European Union member governments could in the next two months review an embargo on Iranian oil imports due to take effect in July, a senior EU official said on Friday.

The bloc’s 27 governments agreed in January to ban purchases of Iranian crude in an effort to increase pressure on Tehran over its nuclear programme.

But they agreed to review the plan before May, because of concerns over the impact of the embargo on global crude prices and the ability of some EU governments - particularly Greece - to find alternative supplies.

“So far, Greece has come back to us saying that for the time being they seem to be able to handle the situation,” the official said, speaking on condition of anonymity.

“They asked for a possibility of coming back to this in May or maybe June.”

Comments
  • Egsaan - 2012-04-20 14:13

    Embargo backfiring hmm?

  • Nkululeko - 2012-04-20 20:12

    what were you thinking at the first place any ways.

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