‘EU sanctions on Iran oil ineffective’

A member of Iran Majlis (parliament) Energy Committee says recent sanctions enforced by the European Union (EU) against Iran’s oil sector are totally ineffective.

Seyyed Emad Hosseini further stated on Sunday that the unofficial version of the sanctions had been in effect since many years ago and the EU has now made them official, IRNA reported.

The lawmaker added that Iran’s oil export to EU member states accounts for less than 18 percent of the country’s total exports.

“If these countries don’t want to buy this [small] amount [of Iran’s oil] anymore, it will have no effect on the Iranian economy,” he said.

Hosseini went on to say that other countries are willing to buy Iran’s oil, saying, “Iran’s crude oil has its own customers and such sanctions will cause no problem for the country.”

The lawmaker said Iranian specialists are very skillful in oil industry and the country can overcome sanctions by relying on domestic potentials.

Britain and the United States imposed new sanctions on Iran’s banking system and energy sector after the International Atomic Energy Agency (IAEA) released its latest report on Tehran’s nuclear program on November 8.

On November 21, London terminated all contact between the UK’s financial system and the entire Iranian banking system, including the Central Bank of Iran. Washington also announced new sanctions targeting Iran’s oil and petrochemical industry and the Iranian companies supplying Tehran’s nuclear program on the same day.

Following suit with Britain and the US, the French government declared that it will not buy Iran’s crude oil anymore.

Paris also called for new sanctions on an “unprecedented scale” against Iran in response to Tehran’s nuclear program, urging world powers to halt purchases of Iranian oil and freeze its Central Bank assets.

The new unilateral measures came after a failed attempt by the US and its allies to take Iran’s case to the UN Security Council.

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