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Sunday, February 19, 2012

Iran stops oil sales to British, French companies

Iran has stopped selling crude to British and French companies, the oil ministry said.

"Exporting crude to British and French companies has been stopped ... we will sell our oil to new customers," spokesman Alireza Nikzad was quoted as saying by the ministry of petroleum website.

The move appeared to be in retaliation for a decision by the European Union in January to stop importing crude from Iran from July 1 over its disputed nuclear program, which the West says is aimed at building bombs. Iran denies this.

Iran's oil minister said on February 4 that the Islamic state 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.

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