Iran General NewsEU to meet on Iran oil embargo on Jan....

EU to meet on Iran oil embargo on Jan. 23-diplomats

-

Reuters: The European Union is expected to bring forward a meeting of foreign ministers due to decide on an oil embargo on Iran by one week to Jan. 23, EU diplomats said on Monday.

BRUSSELS, Jan 9 (Reuters) – The European Union is expected to bring forward a meeting of foreign ministers due to decide on an oil embargo on Iran by one week to Jan. 23, EU diplomats said on Monday.

They said a final decision would be taken by a meeting of EU ambassadors in Brussels on Tuesday, and the aim would be to avoid overshadowing a summit of EU leaders set for Jan. 30.

“It looks likely it will be brought forward to the 23rd,” one of the diplomats said.

EU states have already agreed in principle to an embargo on Iranian oil, part of the latest Western effort to ratchet up pressure on Tehran over its nuclear programme.

However, they still have to finalise details of when it will be imposed. Diplomats say the embargo could take several months to start because some EU capitals want a delay to shield their debt-stricken economies.

EU countries have proposed “grace periods” on existing contracts of between one month and 12 months to allow them to find alternative supplies.

Greece, which depends heavily on Iranian crude, is pushing for the longest delay, the diplomats said. Britain, France, the Netherlands and Germany wanted a maximum grace period of three months.

The goal had originally been for a final decision on Jan. 30, but the decision to move the foreign ministers’ meeting will increase pressure for a quicker decision.

A diplomat said a EU working group meeting on Monday had not appeared to narrow the differences.

European measures against Iran’s oil industry will complement U.S. sanctions announced on New Year’s Eve that aim to make it impossible for most countries’ refineries to buy Iranian crude.

Iran is the second-largest producer of oil, after Saudi Arabia, among the 12 countries in OPEC, producing around 3.5 million barrels per day.

EU countries buy about 500,000 barrels per day (bpd) of Iran’s 2.6 million bpd in exports, making the bloc collectively the largest market for Iranian crude, rivalling China.

The three biggest EU importers have serious debt problems. Greece imports a quarter of its oil from Iran, Italy about 13 percent and Spain nearly 10 percent. (Reporting by David Brunnstrom, Julien Toyer and Justyna Pawlak; Editing by Matthew Jones)

Latest news

 Statistics show that New Year accidents’ deaths in Iran reached 585

Ahmad Shirani, the head of the Information and Traffic Control Center of the Iranian regime’s police, announced that the...

Land Subsidence in Critical Conditions in Isfahan

Mehdi Toghyani, a member of the Iranian regime’s Majlis (parliament), pointed to the occurrence of land subsidence in various...

Iran’s Actual Inflation Rate Higher Than Official Stats

The state-run Donya-e-eqtesad newspaper, in a report analyzing the "general sentiment" regarding inflation in 2023, has stated that households...

Iranian Workers’ Monthly $136 Wages Can’t Cover $500 Expenses

The lives of a significant portion of the Iranian population are marked by uncertainty, largely because the Iranian economy...

Iranian Nurses Earn Twice Their Wages in Ride-Hailing Services

Reza Aryanpour, a member of the regime’s Majlis (parliament) Health and Treatment Commission, highlighted the growing trend of nurses...

Iran: Unprecedented Record of 152 Million Liters of Gasoline Consumption Per Day

On March 19, Iran set a new historical record in gasoline consumption with 152 million liters consumed in one...

Must read

Obama, Iran and a push for policy change

Reuters: Could the administration of President Barack Obama hasten...

Iran Close to Breaching Nuclear Deal Again

Iran Focus London, 5 Jun - The agency responsible for...

You might also likeRELATED
Recommended to you