Iran Cuts Oil to Greek Companies

According to Iranian state television on April 5th, Iran has stopped oil sales to two Greek refineries, Hellenic Petroleum and Motor Oil Hellas after failure of the two companies to make the required payments.
Greece’s major refineries Hellenic Petroleum and Motor Oil Hellas have been blocked  from purchasing Iranian crude oil , as European banks  are  reluctant to manage the transactions, following  EU and U.S. banking sanctions on Iran.

According to a senior official at Hellenic Petroleum,it is becoming  impossible for the company to meet it’s oil payments because of sanctions imposed by the United States and the European Union.
“We were using a Turkish bank all the time but we have to use an EU corresponding bank to make the payment from our Greek bank to the Turkish one and the EU banks are refusing that,” the official said.
The EU and US. are imposing sanctions on the Islamic Republic, with a full embargo on Iranian oil imports from July 1, as a part of pressure over Tehran’s nuclear program.
(source: neurope)



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