Iran may stop Europe oil exports

January 26th, 2012 - 4:35 am ICT by IANS  

Tehran, Jan 26 (IANS) Iran is mulling over a plan to stop oil exports to the European Union (EU) in retaliation against its oil embargo.

The EU foreign ministers Monday banned imports of oil from Iran that will take effect from July 1.

Iranian parliament is seeking to approve a plan to stop oil exports to Europe, Xinhua quoted the daily Tehran Times as saying Wednesday.

“All European countries that have imposed sanctions against Iran will not be able to buy even one drop of oil from Iran,” Nasser Soudani, member of parliament’s energy commission, said.

Iran earlier threatened to close the Strait of Hormuz, a key route for shipment of oil from the Arab world, if a ban was imposed.

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