Listen Download Podcast
  • RFI English News flash 04h00 - 04h10 GMT Mon-Fri
    News bulletin 12/11 04h00 GMT
  • Paris Live AM 04h10 - 04h30 GMT Mon-Fri
    Features and analysis 12/11 04h10 GMT
  • RFI English News flash 05h00 - 05h10 GMT Mon-Fri
    News bulletin 12/11 05h00 GMT
  • Paris Live AM 05h10 - 05h30 GMT Mon-Fri
    Features and analysis 12/11 05h10 GMT
  • RFI English News flash 06h00 - 06h10 GMT Mon-Fri
    News bulletin 12/11 06h00 GMT
  • Paris Live AM 06h10 - 06h30 GMT Mon-Fri
    Features and analysis 12/11 06h10 GMT
  • RFI English News flash 06h30 - 06h33 GMT Mon-Fri
    News bulletin 12/11 06h30 GMT
  • Paris Live AM 06h33 - 06h59 GMT Mon-Fri
    Features and analysis 12/11 06h33 GMT
  • RFI English News flash 07h00 - 07h10 GMT Mon-Fri
    News bulletin 12/11 07h00 GMT
  • RFI English News flash 07h30 - 07h33 GMT Mon-Fri
    News bulletin 12/11 07h30 GMT
  • RFI English News flash 14h00 - 14h03 GMT Sat-Sun
    News bulletin 12/10 14h00 GMT
  • RFI English News flash 14h00 - 14h06 GMT Mon-Fri
    News bulletin 12/11 14h00 GMT
  • Paris Live Weekend 14h03 - 14h30 GMT Sat-Sun
    Features and analysis 12/10 14h03 GMT
  • Paris Live PM 14h06 - 14h30 GMT Mon-Fri
    Features and analysis 12/11 14h06 GMT
  • RFI English News flash 14h30 - 14h33 GMT Mon-Fri
    News bulletin 12/11 14h30 GMT
  • Paris Live PM 14h33 - 14h59 GMT Mon-Fri
    Features and analysis 12/10 14h33 GMT
  • RFI English News flash 16h00 - 16h03 GMT Sat-Sun
    News bulletin 12/10 16h00 GMT
  • RFI English News flash 16h00 - 16h06 GMT Sat-Sun
    News bulletin 12/11 16h00 GMT
  • Paris Live Weekend 16h03 - 16h30 GMT Sat-Sun
    Features and analysis 12/10 16h03 GMT
  • RFI English News flash 16h30 - 16h33 GMT Mon-Fri
    News bulletin 12/11 16h30 GMT
  • Paris Live Weekend 16h33 - 17h00 GMT Sat-Sun
    Features and analysis 12/10 16h33 GMT
To take full advantage of multimedia content, you must have the Flash plugin installed in your browser. To connect, you need to enable cookies in your browser settings. For an optimal navigation, the RFI site is compatible with the following browsers: Internet Explorer 8 and above, Firefox 10 and +, Safari 3+, Chrome 17 and + etc.
Economy

Iran stops oil sales to France and Britain

media Raffinerie pétrolière à Assalouyeh en Iran. Reuters/Caren Firouz

Iran’s oil ministry says it has halted all oil sales to France and Britain in retaliation for a phased European Union ban on Iranian oil that is yet to fully take effect.

 

"Oil sales to British and French companies have ceased," spokesman Ali Reza Nikzad Rahbar said in a statement on the ministry's official website. “We have taken steps to deliver our oil to other countries in the place of British and French companies."

The decision was not expected to have a big impact on the two countries. France last year bought only three per cent of its oil, around 58,000 barrels a day, from the Islamic republic, and Britain was believed to be no longer importing any Iranian oil.

But it was seen as a warning shot to other EU nations that are bigger consumers of Iranian oil, including Italy, Spain and Greece.

These countries were not mentioned in Iran's announcement on Sunday, but they are included in an EU decision to stop buying Iranian oil that was announced last month and which will take full effect from July.

According to the International Energy Agency, Italy obtains 13 per cent of its oil, or 185,000 barrels per day (bpd), from Iran, while Spain imported 12 per cent of its oil needs, or 161,000 bpd, and Greece bought 30 per cent of its needs, or 103,000 bpd.

Iran, OPEC's second-biggest exporter after Saudi Arabia, pumps 3.5 million bpd of which it exports 2.5 million barrels.

Seventy percent of the exports go to Asian countries most notably China and India. More than 20 per cent, or around 600,000 barrels per day, go to the EU.

Iran has been threatening for weeks to cut all oil exports to Europe because of the EU ban, but has thus far held off. Ceasing all exports to the EU would harm its own economy unless it had Asian buyers ready to pick up the contracts.

 

 

Related
 
Sorry but the period of time connection to the operation is exceeded.