Home News World Iran cuts off oil supplies to Britain, France

Iran cuts off oil supplies to Britain, France

Iranian President Mahmoud Ahmadinejad (C) tours the Abadan oil refinery during the inauguration of a petrol making unit in the southwestern city of Abadan on May 24, 2011 (AFP Photo / ISNA / Amir Pourmand)

The move was confirmed by the country’s Oil Ministry, with the spokesman saying that Iran will be “selling its oil to new customers”.

The decision is not expected to have a big impact, as France only bought three percent of its oil − 58,000 barrels a day − from the Islamic republic last year, and Britain buys less than 1 per cent.

But it was seen as a warning shot to other EU nations that are bigger consumers of Iranian oil, including Italy, Spain and Greece. The latter would be the most affected, should Iran go ahead with the cuts, as crisis-hit Greece gets more that 30 percent of its oil needs from the Islamic Republic.

As a whole, the bloc currently buys about 18% of Iran’s oil exports. Iran is the world’s 4th largest oil supplier, with China, India and Japan its largest buyers.

Read the whole article…

Must Read

EARLY HOLIDAY GIFT ARRIVES AT NORTH COAST REP THEATRE WITH THE COMEDY THE SUNSHINE BOYS

Most theatre audiences acknowledge that playwright Neil Simon was the true and anointed “king of comedy” not only in America but worldwide.  They also...

OSCAR-WINNING-COSTUME DESIGNER ORRY-KELLY’S JOURNEY FROM DOWN UNDER TO HOLLYWOOD BROUGHT TO LIFE AT THE LEE STRASBERG THEATRE IN HOLLYWOOD

Australia's Orry-Kelly was born in a small town in New South Wales called Kiawa, famed for its blowhole. The only child of an alcoholic...

NEIL SIMON’S MUSICAL FOOLS AT ATWATER VILLAGE THEATER

There is an old adage that "a fool and his money are soon parted." Still, if you want to have an evening of unparalleled...

GROVES CABIN THEATRE OF MORONGO VALLEY KICKS OFF 2019/2020 SEASON

“Educating Rita”, is a two character 1980 British comedy written by Willy Russell who was willing to poke his thumb into eyes of the...

WORLD PREMIERE MUSICAL COMEDY “ALMOST FAMOUS” SOARS AT SAN DIEGO’s OLD GLOBE THEATRE

There is very little anyone or anything can do to stop an idea whose time has come.  In the world of music, styles, beats, tempos,...
%d bloggers like this: