Europe could be left without black gold from Iran

Iran's Ministry for Oil Industry rejected the information saying that the country had halted oil shipments to six European countries.

It was earlier reported that Iran had suspended oil exports to six countries of the European Union in response to a new package of European sanctions against the Islamic Republic. It was particularly said that Iran had suspended exporting its oil to France, Italy, Spain, Greece, Portugal and the Netherlands.

"We reject this information. If we had made such a decision, the Supreme Council of the National Security of Iran would have made the announcement accordingly," an official spokesman for the oil industry ministry said.

Many analysts said that Iran tried to put the cart before the horse and fight the enemy with its own weapon. Such a step does not give European countries time to find new suppliers, sign contracts with them and make the oil embargo as least painful to Europe as possible, website said.

In the meantime, world prices have gone up Wednesday against the background of the news from Iran. The cost of Brent oil went up to nearly $120 per barrel. This is a record high for the recent six months. After the Iranian authorities rejected the information, the oil prices dropped to $118.75 per barrel.


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