Iran to cut oil to more European refineries

TEHRAN - Iranian Oil Minister Rostam Qasemi said Tuesday that the Islamic republic will cut its oil sales to more European refineries in the following days, the semi-official Mehr news agency reported.

"Iran is not worried about the EU oil embargo on the country's oil" exports, and in the following days it will stop its crude sales to a number of European refineries, said Qasemi in an inauguration ceremony of some petrochemical projects in Iran's southern gas-rich Assaluyeh region.

In January, EU leaders endorsed the latest restrictive sanction measures on Iran's oil exports.

Last week, Iran's state TV reported that the Islamic republic has stopped its oil sales to two major Greek firms of Hellenic Petroleum and Motor Oil Hellas after the companies defaulted on their crude purchases from Iran.

In February, Iran announced that it had stopped oil exports to British and French companies, and threatened to possibly cut its oil exports to six other EU states, including Portugal, Spain, Greece, Italy, Germany and the Netherlands.