Embargo On Iranian Oil Delayed By Six Months

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Eric Platt

A European Union embargo on Iranian oil will likely be delayed by six months, Bloomberg‘s Thomas Penny reports.

The E.U. is holding for countries including Italy, Greece and Spain to find alternative sources.

New York oil prices have fallen 1.8% on the news.

Iran is the second largest OPEC oil producer, with 3.6 million barrels recovered per day last month.

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Posted on January 12, 2012, in Economic planning, Greece, Iran, Political economy, Spain and tagged , , , , , , , . Bookmark the permalink. Comments Off on Embargo On Iranian Oil Delayed By Six Months.

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