Ban on Iranian oil will hurt EU, Russia warns

Russian Foreign Minister Sergei Lavrov warned on Friday that the European Union’s ban on purchasing Iranian oil would end up hurting the bloc’s member countries, Reuters reported.
“The European Union is rejecting purchases of Iranian oil, even though very many EU countries depend on this oil,” Lavrov said in an interview on state-run Rossiya 24 television.
“One can say, of course, that the deficit will be covered, but (some) refineries are geared specifically to Iranian oil … and readjusting them will demand substantial investments that the EU can hardly afford now,” Lavrov said.