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Iran stops oil sale to Shell, will cut oil to ’whole Europe’ if sanctions not lifted: Oil Minister

20 April 2012 12:51 (UTC +04:00)

Baku. Konul Jafarli - APA. Oil Minister Rostam Qasemi threatened on Thursday that Iran will cut oil export to all European countries if they do not lift sanctions on Tehran after the next round of talks in Baghdad, APA reports citing Fars news agency.

After nuclear negotiations in Istanbul on April 14, which was described as positive, Iran and the 5+1 group (the five permanent members of the UN Security Council and Germany) are scheduled to meet again in Baghdad on May 23.

The minister said the Oil Ministry has "officially" cut crude exports to Britain and France, however, he added a stop of Iran’s oil export to refiners in Greece, Spain, and Germany is not "official".

Qasemi also said Greece is paying a large sum of its oil debts to Iran.

The minister went on to say that the National Iranian Oil Company (NIOC) has signed new contracts with some customers so that if oil export to Europe is halted completely Iran will have alternative buyers.

Iran stops oil sale to Royal Dutch Shell Co.

"The National Iranian Oil Company has stopped oil sale to Shell Company," Qasemi said.

Qasemi also said this company owes Iran one billion dollar for oil purchases. He added the company is trying to pay the money to Iran as soon as possible.