A Review of the Nigerian Energy Industry

Europe may ban Iran gas

04 October 2012, Sweetcrude, LONDON – REPORTS say the European Union could be set to put more pressure on sanctions-hit Iran by banning gas imports from the country.

If this happens, it will be another big blow to Iran following international oil sanctions which have this week led to a sharp drop in the local currency, the rial, against the US dollar.

Reuters reported on Thursday that EU diplomats have started to put together plans to ban the import of Iranian gas ahead of a meeting of foreign ministers on 15 October.

The news wire cited three unidentified EU diplomats as saying that a preliminary deal on banning gas imports was agreed late on Wednesday.

“The big states back it: Germany, Britain, France,” one of the sources told Reuters.

Iran is currently struggling under the weight of international sanctions against its crude oil and other industries. The sanctions are aimed at crippling the country’s perceived nuclear weapons programme. Iran has always contended that the programme is for civilian use only.

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  • Even though we believe that the Iranians have a legitimate right to pursue its atomic energy aspirations, we take exception to the mind numbing rhetoric repeated threats to the state of Israel coming from the political leadership of Iran. We therefore urge the Iranian leadership to pursue its aspirations within acceptable standards set by the IAEA and spare its people the debilitating effects of sanctions.