Iran Shrugs At Looming EU Ban On Its Oil [View all]
By Agence France-Presse
Thursday, January 5, 2012
Iran on Thursday played down the impact of new Western sanctions targeting its vital oil sector, after European diplomats said they have reached preliminary agreement on an EU oil ban from the Islamic republic.
The National Iranian Oil Company said demand was so high for Iranian oil that it would have no trouble selling it elsewhere.
“We hope that Iran’s oil is not sanctioned officially but if so we have taken the needed arrangements,” the company’s director of international affairs, Mohsen Qamsari, was quoted as saying in a report on Iran’s oil ministry website.
The 27-nation European Union has struck “an agreement in principle” to ban Iranian oil imports, an EU diplomat in Brussels told AFP.