Monday, June 28, 2010
Total ends fuel sale to Iran
The French energy company Total has stopped supplying fuel supplies to Iran, Total only makes up for a small amount of fuel deliveries to the Islamic Republic.
This has come as a result of the unilateral sanctions imposed on Iran by the United States, these sanctions aim to stop international companies such as Total from supplying Iran with petroleum products or investing in her oil and gas industries by preventing them from then trading in the US.
However these measures are not part of the all round sanctions approved by the UN to which China and Russia have objected.
Spain's Repsol has also pulled out of a contract to develop the South Pars gas field.
Even with its huge petroleum reserves Iran still relies on petroleum imports for 30-40% of its petrol requirements.