Iran Stops Oil Sales To British, French Companies

Sunday, February 19, 2012
By Paul Martin

by Tyler Durden

The geopolitical game theory escalates once again, as Iran, which four days ago halted exports to peripheral European countries took it up a notch, and has as of this morning halted sales to British and French companies. Reuters reports: “Iran has stopped selling crude to British and French companies, the oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions on the Islamic state’s lifeblood, oil. “Exporting crude to British and French companies has been stopped … we will sell our oil to new customers,” spokesman Alireza Nikzad was quoted as saying by the ministry of petroleum website.” Here is the actual statement from As a reminder, on January 27 we said how Iran was about to “Turn Embargo Tables: To Pass Law Halting All Crude Exports To Europe.” And so it has – now, the relentless media campaign about China isolating Iran in response to American demands has to be respun: recall that in early February Reuters told us that “China will halve its crude oil imports from Iran in March compared to average monthly purchases a year ago, as a dispute over payments and prices stretches into a third month, oil industry sources involved in the deals said on Monday.”

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