Iran stops sales of crude oil to UK, France
<p><span word="Iran">Iran</span> <span word="has">has</span> <span word="stopped">stopped</span> <span word="selling">selling</span> <span word="crude">crude</span> <span word="to">to</span> <span word="British">British</span> <span word="and">and</span> <span word="French">French</span> <span word="companies">companies</span>, <span word="the">the</span> <span word="oil">oil</span> <span word="ministry">ministry</span> <span word="said">said</span> <span word="on">on</span> <span word="Sunday">Sunday</span>, <span word="in">in</span> <span word="a">a</span> <span word="retaliatory">retaliatory</span> <span word="measure">measure</span> <span word="against">against</span> <span word="fresh">fresh</span> <span word="EU">EU</span> <span word="sanctions">sanctions</span> <span word="on">on</span> <span word="the">the</span> <span word="nation">nation</span>'<span word="s">s</span> <span word="lifeblood">lifeblood</span>, <span word="oil">oil</span>.</p><p>"<span word="Exporting">Exporting</span> <span word="crude">crude</span> <span word="to">to</span> <span word="British">British</span> <span word="and">and</span> <span word="French">French</span> <span word="companies">companies</span> <span word="has">has</span> <span word="been">been</span> <span word="stopped">stopped</span> ... <span word="we">we</span> <span word="will">will</span> <span word="sell">sell</span> <span word="our">our</span> <span word="oil">oil</span> <span word="to">to</span> <span word="new">new</span> <span word="customers">customers</span>," <span word="a">a</span> <span word="spokesman">spokesman</span> <span word="was">was</span> <span word="quoted">quoted</span> <span word="saying">saying</span> <span word="on">on</span> <span word="the">the</span> <span word="ministry">ministry</span> <span word="of">of</span> <span word="petroleum">petroleum</span>'<span word="s">s</span> <span word="website">website</span>.</p><p><span word="The">The</span> <span word="EU">EU</span> <span word="in">in</span> <span word="January">January</span> <span word="decided">decided</span> <span word="to">to</span> <span word="stop">stop</span> <span word="importing">importing</span> <span word="crude">crude</span> <span word="from">from</span> <span word="Iran">Iran</span> <span word="from">from</span> <span word="July">July</span> 1 <span word="over">over</span> <span word="its">its</span> <span word="disputed">disputed</span> <span word="nuclear">nuclear</span> <span word="program">program</span>.</p><p><span word="Iran">Iran</span>'<span word="s">s</span> <span word="oil">oil</span> <span word="minister">minister</span> <span word="said">said</span> <span word="on">on</span> <span word="Feb">Feb</span> 4 <span word="that">that</span> <span word="Teheran">Teheran</span> <span word="would">would</span> <span word="cut">cut</span> <span word="its">its</span> <span word="oil">oil</span> <span word="exports">exports</span> <span word="to">to</span> "<span word="some">some</span>" <span word="European">European</span> <span word="countries">countries</span>.</p><p><span word="The">The</span> <span word="European">European</span> <span word="Commission">Commission</span> <span word="said">said</span> <span word="last">last</span> <span word="week">week</span> <span word="that">that</span> <span word="the">the</span> <span word="bloc">bloc</span> <span word="would">would</span> <span word="not">not</span> <span word="be">be</span> <span word="short">short</span> <span word="of">of</span> <span word="oil">oil</span> <span word="if">if</span> <span word="Iran">Iran</span> <span word="stopped">stopped</span> <span word="crude">crude</span> <span word="exports">exports</span>, <span word="as">as</span> <span word="they">they</span> <span word="have">have</span> <span word="enough">enough</span> <span word="in">in</span> <span word="stock">stock</span> <span word="to">to</span> <span word="meet">meet</span> <span word="their">their</span> <span word="needs">needs</span> <span word="for">for</span> <span word="around">around</span> 120 <span word="days">days</span>.</p><p><span word="Industry">Industry</span> <span word="sources">sources</span> <span word="told">told</span> <span word="Reuters">Reuters</span> <span word="on">on</span> <span word="Feb">Feb</span> 16 <span word="that">that</span> <span word="Iran">Iran</span>'<span word="s">s</span> <span word="top">top</span> <span word="oil">oil</span> <span word="buyers">buyers</span> <span word="in">in</span> <span word="Europe">Europe</span> <span word="were">were</span> <span word="making">making</span> <span word="substantial">substantial</span> <span word="cuts">cuts</span> <span word="in">in</span> <span word="supply">supply</span> <span word="months">months</span> <span word="in">in</span> <span word="advance">advance</span> <span word="of">of</span> <span word="EU">EU</span> <span word="sanctions">sanctions</span>, <span word="reducing">reducing</span> <span word="flows">flows</span> <span word="to">to</span> <span word="the">the</span> <span word="continent">continent</span> <span word="in">in</span> <span word="March">March</span> <span word="by">by</span> <span word="more">more</span> <span word="than">than</span> <span word="a">a</span> <span word="third">third</span> - <span word="or">or</span> <span word="over">over</span> 300,000 <span word="barrels">barrels</span> <span word="daily">daily</span>.</p><p><span word="France">France</span>'<span word="s">s</span> <span word="Total">Total</span> <span word="has">has</span> <span word="already">already</span> <span word="stopped">stopped</span> <span word="buying">buying</span> <span word="Iran">Iran</span>'<span word="s">s</span> <span word="crude">crude</span>, <span word="which">which</span> <span word="is">is</span> <span word="subject">subject</span> <span word="to">to</span> <span word="fresh">fresh</span> <span word="EU">EU</span> <span word="embargoes">embargoes</span>. <span word="Market">Market</span> <span word="sources">sources</span> <span word="said">said</span> <span word="Royal">Royal</span> <span word="Dutch">Dutch</span> <span word="Shell">Shell</span> <span word="has">has</span> <span word="scaled">scaled</span> <span word="back">back</span> <span word="sharply">sharply</span>.</p><p><span word="Iran">Iran</span> <span word="was">was</span> <span word="supplying">supplying</span> <span word="more">more</span> <span word="than">than</span> 700,000 <span word="barrels">barrels</span> <span word="per">per</span> <span word="day">day</span> <span word="to">to</span> <span word="the">the</span> <span word="EU">EU</span> <span word="plus">plus</span> <span word="Turkey">Turkey</span> <span word="in">in</span> 2011, <span word="industry">industry</span> <span word="sources">sources</span> <span word="said">said</span>.</p><p><span word="By">By</span> <span word="the">the</span> <span word="start">start</span> <span word="of">of</span> <span word="this">this</span> <span word="year">year</span> <span word="imports">imports</span> <span word="had">had</span> <span word="sunk">sunk</span> <span word="to">to</span> <span word="about">about</span> 650,000 <span word="bpd">bpd</span> <span word="as">as</span> <span word="some">some</span> <span word="customers">customers</span> <span word="cut">cut</span> <span word="back">back</span> <span word="in">in</span> <span word="anticipation">anticipation</span> <span word="of">of</span> <span word="an">an</span> <span word="EU">EU</span> <span word="ban">ban</span>.</p>
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