EU Says It Has Enough Oil Stocks as Nations Cut Iran Imports
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The European Union said the bloc’s nations are reducing purchases of oil from Iran and have enough reserves to face potential supply disruptions even if the Persian Gulf country halts crude sales before an EU embargo enters into force on July 1.
Some of the EU’s 27 nations have already stopped purchasing oil from Iran and others are buying less, according to Marlene Holzner, energy spokeswoman for the European Commission, the EU executive. Her comments come after the Iranian Oil Ministry’s news website reported the country halted oil sales to French and British buyers to pre-empt the EU ban.