While Russia can substitute Iran, Iranian oil has it own quality - expert
Azerbaijan, Baku, April 24 / Trend S.Isayev/
While according to OPEC stats, Russia can supply enough of oil to international markets, Iranian oil has its own quality, which contains about 18 percent of sulfur, EU economic advisor Mehrdad Emadi told Trend.
The expert was commenting on possibilities of other countries to substitute Iran as an oil supplier to Europe.
Emadi said that finding an alternative for Iranian oil with same qualities will be hard.
"For instance, the oil of Iraq or Saudi Arabia is heavier than that of Iran. For proper replacing, technical elements of oil refineries must be adjusted, such as filtering, pomp pressure and others. This costs, and it needs time of at least 5-6 months," Emadi explained.
Speaking about the EU postponing full ban on oil imports from Iran until late May, Emadi said noted a few reasons for such move.
"There were contracts signed, which have not expired, and the sides have to keep the deal alive until the contract is expired," Emadi said.
"Some contracts expire in September, others need 2-3 months to be finished, or else the cancelling side will be obliged to pay compensation".
Another problem, as Emadi said, is that some European countries like Italy have debts to Iran.
The EU Council delayed the decision over a full ban on oil imports from Iran until late May, a high-ranking diplomatic source told Itar-Tass on Sunday.
It was initially planned that a final decision over an oil embargo against Iran will be taken at a meeting of the EU foreign ministers in Luxembourg on Sunday.