Iran has stopped oil exports to six European states in retaliation for
European Union sanctions imposed on the Islamic state's key export.
Iran has stopped exporting oil to Netherlands, Greece, France,
Portugal, Spain and Italy. Brent crude oil prices were up $1 a barrel
to $118.35 shortly after the announcement. The EU's 27 member states
have decided to stop importing crude oil from Iran from July 1 over
its disputed nuclear program, which the West says is aimed at building
bombs. Iran denies this. Iran's oil minister said on February 4 that
the Islamic state would certainly cut its oil exports to "some"
European countries.
