Iran suspends oil exports to France, UK

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Iran exports 2.2 million barrels of oil a day, 18% of which is bound for European markets, according to the EIA.

STORY HIGHLIGHTS

  • Other customers will “replace French and British companies,” an Iranian oil ministry spokesman says
  • The EU sanctions are meant to force Iran to provide more information on its nuclear program
  • Iran exports 2.2. million barrels of oil daily, 18% of which is bound for European markets

Tehran (CNN) — Iran’s oil ministry announced Sunday that it had stopped crude exports to British and French companies.

The order came several days after Iran threatened to cut oil exports to some European Union countries in retaliation for sanctions put in place by the EU and the United States in January, a ministry spokesman said in a statement.

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