Sunday, February 19, 2012

Iran Stops Oil Sales to British and French Companies

Iran announced that it will no longer sell oil to British and French companies and will find new customers for the oil. According to Alireza Nikzad, spokesman for the Iranian Ministry of Petroleum, "Exporting crude to British and French companies has stopped."

In addition to that, Iran's oil minister also said that the Islamic state will cut its oil exports to "some" European countries.

This is Iran's response to the sanctions placed on it due to its continued development of nuclear fuel and possible work on a nuclear weapon.

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