Iran delays move to stop EU oil exports

Iran Materials 30 January 2012 15:39 (UTC +04:00)

Azerbaijan, Baku, Jan. 30/ Trend M. Moezzi

The proposal to immediately stop Iran's oil exports to European countries will be delayed until it can be thoroughly studied.

Iran's Majlis (parliament) wanted to pass a law cutting off the country's oil exports to the European Union (EU) in response to the latest round of sanctions imposed against it by the West.

Now, members of the energy commission have decided to take a deeper look at their proposal before presenting it to the full Majlis.

European Union (EU) foreign ministers agreed to stop buying oil from Iran in six months when current oil contracts expire. This means the 27 countries that make up the EU cannot sign new ones. New sanctions will also freeze some of the Central Bank of Iran's (CBI) assets