Iran stops oil supply to the UK, France

Iranian President Mahmoud Ahmadinejad in Tehran, opened the session of parliament November 1, 2011. As the ministry said oil production and refining on Sunday Iran stopped selling oil to the British and French companies in response to new EU sanctions against the existence of an Islamic state, and oil refining.

"Exports of crude oil in the British and French companies has been stopped ... we will sell our oil to new customers", so a representative Alireza Nikzad was quoted on the website of the Ministry of mining and refining.
The European Union in January, decided to terminate on July 1, crude oil imports from Iran in connection with its controversial nuclear program, which in the opinion of the West, aimed at creating nuclear weapons. Iran denies this.
The Iranian oil minister said Feb. 4 that the Islamic state will reduce oil exports to "some" European countries.
The European Commission said last week that the bloc the EU will have no shortage of oil in the event of termination of Iran's crude oil exports. It also reported that the EU has a sufficient supply to meet their needs for about 120 days.
Industry sources reported Feb. 16 that the top buyers of Iranian oil in Europe have made a significant reduction in the monthly volume of crude oil to European Union sanctions, reducing flows on the continent in March, more than a third - or 300,000 barrels a day.
French «Total» is already stopped buying raw materials in Iran under the newly introduced EU arms embargo. Sources also reported a sharp reduction in procurement of the Royal Dutch company «Shell».
Among European countries, the most sensitive to disruption of oil supplies become exhausted debt Greece.
Greek «Motor Oil Hellas», «Hellenic Petroleum» with «Cepsa» Spain «Repsol» were delivered to the plight of the cessation of imports of raw materials from Iran.
Iran in 2011 delivered more than 700,000 barrels per day in the EU and Turkey (from industrial sources).
By the beginning of this year, imports fell to 650,000 barrels a day - some clients have reduced the volumes of purchases in anticipation of the EU ban.
Saudi Arabia says it is ready to provide additional oil or completion of existing contracts or through one-off sales in the spot market. Iran has criticized the statement of Riyadh.
Iran has stated that the reduction of EU procurement will have no impact on sales of oil by Iran and warned that any sanctions against the oil would entail an increase in international oil prices.
Rates of crude oil prices rose $ 1 a barrel to $ 118.35 shortly after the state-run media of Iran said last week that Tehran cease oil exports six European countries. The report was soon invalidated by Iranian government officials.
"We have our own customers ... Selection of new corporate clients - the prerogative of Iran," said Nikzad.
New EU sanctions include a number of additional restrictions on Iran, which go far beyond the UN sanctions adopted last month and include a ban on cooperation with Iranian banks and insurance companies, as well as measures to prevent investment in the lucrative oil and gas sector Tehran, including recycling.
The sanctions imposed in order to provide financial pressures fifth player in the world production of crude oil, has little refining capacity and forced to import about 40 percent of the gasoline needed for domestic consumption.