Iran Stops Oil Exports to Germany

In response to the oil embargo that the European Union imposed on Iran on January 23, Iran oil ministry decided to stop the oil exports to Germany. On January 29, the Iranian oil minister announced that Iran would cut oil exports to “certain countries” in the near future in response to the oil embargo.

So far, Iran has cut oil exports to France, Britain, Greece, and Spain.

The Iranian parliament has prepared a plan calling for a halt to Iran’s oil exports to the European Union states that voted for sanctions on the country’s oil industry. According to the initial draft from parliament, government will be allowed to stop selling oil to the countries that initiated sanctions on Iran and the countries that are insisting on the implementation of oil sanctions on Iran. Also the government will be allowed to place certain restrictions on European nationals travelling to Iran and Iranians travelling to European countries. Imports of goods from the countries that imposed sanctions on Iran will be banned too. Base on this draft, government should find new clients and users for oil.

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