EU approves of fuel sales to Iran

Oct 29, 2010 12:00 AM

Despite US efforts to ban fuel sales to Iran, the European Union will provide Tehran with gasoline and other fuels, internal EU documents revealed.
On June 9, the UN Security Council imposed a fourth round of sanctions against Iran’s military and financial sectors over US-led allegations that Tehran is following a military nuclear program.

In addition to UNSC sanctions, the US administration took new unilateral measures against Iran in July, seeking to prevent Iran’s access to refined oil products and penalize foreign companies that help the country’s energy sector.
Weeks later, the European Union joined the US in imposing unilateral measures against the energy-rich country’s oil and gas industry.

The 27 member block has however concluded that while investment in Iran’s oil industry should be banned, its punitive measures against the country should not be extended to the supply of fuel to the Islamic Republic.
“The restrictive measures should not affect the import or export of oil or gas to and from Iran,” a new EU document said.

Unlike US regulations which penalizes companies selling gasoline to Iran, the new set of laws will also allow financial transactions needed to import of oil and gas to Iran. Iran has called on European countries to act based on their national interest, adding that following Washington’s policies on Iran would "be at their own cost".
Iranian Vice President Mohammad-Reza Rahimi indicated that the European block may not be as content with Washington’s policies as it may seem.

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