Home > Middle East > Iran oil chief: sanctions to hit EU buyback firms | Reuters via AlertNet

Iran oil chief: sanctions to hit EU buyback firms | Reuters via AlertNet

TEHRAN, Jan 28 (Reuters) – European companies owed oil by Iran could lose out if Tehran imposes a ban on crude exports to the European Union next week, the head of Iran’s state oil company said on Saturday.

Iran’s parliament is due to debate a bill on Sunday that would cut off oil supplies to the EU in a matter of days, in revenge for a decision last Monday by the 27 EU member states to stop importing crude from Iran as of July 1.

“Generally, the parties to incur damage from the EU’s recent decision will be European companies with pending contracts with Iran,” Ahmad Qalebani, head of the National Iranian Oil Co. told the ISNA news agency.

For more on this story, visit: Iran oil chief: sanctions to hit EU buyback firms – AlertNet.

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