| Iranian officials predicted that global oil prices would soar by 50 per cent in the wake of EU sanctions as the country's oil minister declared exports to "some countries" would be cut off.
In what will be seen as evidence of brinksmanship, Iran's parliament postponed debate on a proposal immediately to halt oil deliveries to the EU, which accounts for 20 per cent of Tehran's exports of crude. Despite postponing the parliamentary debate, Rostam Qasemi, Iran's energy minister, promised that exports to some countries, which he did not name, would be ended "soon"...............................................Full Article: Source |