Azerbaijan, Baku, Feb. 16 / Trend S.Isayev, T. Jafarov/
If Iran stops oil supplies to the EU countries without notification until an oil contract is expired, then these countries will require compensation from Iran, EU economic advisor Mehrdad Emadi told Trend.
"In case with Greece, Italy and Spain, compensation might go as high as billions of dollars," Emadi said.
Yesterday, Iranian PRESS TV reported that in response to the latest sanctions imposed by the EU against Iran's energy and banking sectors, the Islamic Republic has cut oil exports to six European countries.
The six countries were Italy, Spain, France, Greece, Portugal and Netherlands. The same day Iran's Foreign Ministry summoned the ambassadors of these EU countries.
Later the news was refuted, as Reuters reported that Iran's Oil Ministry denied state media reports on the Islamic state stopping its crude exports to six European countries on Wednesday.
Reuters also reported that Iran's Oil Ministry denied state media reports on the Islamic state stopping its crude exports to six European countries on Wednesday.
Iran's Mehr agency reported that cut oil supply to only France and Netherlands. Spain, Italy, Greece and Portugal were issued an ultimatum, according to which, if the countries do not sign a long-term agreement with Iran in the next two years, the Islamic Republic will cut oil export to those countries.
"Iran has to send a notification to oil consumer country three months before it can cut the supply," Emadi explained. "Oil exports cannot be just stopped without notification".
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