Thursday, April 5, 2012

Iran Halts Oil Sales to Greek Refiners

Iran’s state-run Press TV reported today that Iran has terminated the sale of crude oil to two of its most loyal customers, Hellenic Petroleum and Motor Oil Hellas of Greece, over their inability to make payments for their crude purchases. The tightening EU sanctions make it difficult to process payments to Iran through the global banking system.

Meanwhile, an official at top Greek refiner Hellenic Petroleum told Reuters it had suspended Iranian purchases because sanctions imposed made it impossible to pay.

1 comment:

Anonymous said...

Damned if you do and Damned if you don't with the poor people stuck in the middle.