Ramsco's Women Empowerment Initiative Recognized Among Top BRICS Businesswomen Practices for 2025    Egypt, Elsewedy review progress on Ain Sokhna phosphate complex    Gold prices end July with modest gains    Pakistan says successfully concluded 'landmark trade deal' with US    Egypt's FM, US envoy discuss Gaza ceasefire, Iran nuclear talks    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Federal Reserve maintains interest rates    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Rafah Crossing 'never been closed for one day' from Egypt: PM    I won't trade my identity to please market: Douzi    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt's EHA, Huawei discuss enhanced digital health    Egypt, Oman discuss environmental cooperation    Egypt's EDA explores pharma cooperation with Belarus    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Iran vows to stop "some" oil sales as inspectors visit

TEHRAN: Iran sent conflicting signals in a dispute with the West over its nuclear ambitions, vowing to stop oil exports soon to "some" countries but postponing a parliamentary debate on a proposed halt to crude sales to the European Union.
The Islamic Republic declared itself optimistic about a visit by UN nuclear experts that began on Sunday but also warned the inspectors to be "professional" or see Tehran reducing cooperation with the world body on atomic matters.
Lawmakers have raised the possibility of turning the tables on the EU which will implement its own embargo on Iranian oil by July as it tightens sanctions on Tehran over the nuclear program.
But India, the world's fourth-largest oil consumer, said it would not take steps to cut petroleum imports from Iran despite US and European sanctions against Tehran.
The International Atomic Energy Agency (IAEA) inspection delegation will try to advance efforts to resolve a row about the nuclear work which Iran says is purely civilian but the West suspects is aimed at seeking a nuclear weapon.
Tension with the West rose this month when Washington and the EU imposed the toughest sanctions yet in a drive to force Tehran to provide more information on its nuclear program. The measures take direct aim at the ability of OPEC's second biggest Oil exporter to sell its crude.
In a remark suggesting Iran would fight sanctions with sanctions, Iran's oil minister said the Islamic state would soon stop exporting crude to "some" countries.
Rostam Qasemi did not identify the countries but was speaking less than a week after the EU's 27 member states agreed to stop importing crude from Iran from July 1.
"Soon we will cut exporting oil to some countries," the state news agency IRNA quoted Qasemi as saying.
India, a major customer for Iranian crude, made clear it would not join the wider international efforts to put pressure on Tehran by cutting oil purchases.
"It is not possible for India to take any decision to reduce the imports from Iran drastically, because among the countries which can provide the requirement of the emerging economies, Iran is an important country amongst them," Finance Minister Pranab Mukherjee told reporters on a visit to the Unites States.
The United States wants buyers in Asia, Iran's biggest oil market, to cut imports to put further pressure on Tehran.
Discussion postponed
Iranian lawmakers had been due to debate a bill on Sunday that could have cut off oil supplies to the EU in days, in a move calculated to hit ailing European economies before the EU-wide ban on took effect.
But Iranian MPs postponed discussing the measure.
"No such draft bill has yet been drawn up and nothing has been submitted to the parliament. What exists is a notion by the deputies which is being seriously pursued to bring it to a conclusive end," Emad Hosseini, spokesman for parliament's Energy Committee, told Mehr news agency.
Iranian officials say sanctions have had no impact on the country.
"Iranian oil has its own market, even if we cut our exports to Europe," Oil Minister Qasemi said.
Another lawmaker said the bill would oblige the government to cut Iran's oil supplies to the EU for five to 15 years, the semi-official Fars news agency reported.
By turning the sanctions back on the EU, lawmakers hope to deny the bloc a six-month window it had planned to give those of its members most dependent on Iranian oil - including some of the most economically fragile in southern Europe - to adapt.
Nuclear watchdog
Before departing from Vienna, IAEA Deputy Director General Herman Nackaerts said he hoped Iran would tackle the watchdog's concerns "regarding the possible military dimensions of Iran's nuclear program".
Mehr quoted Foreign Minister Ali Akbar Salehi as saying during a trip to Ethiopia: "We are very optimistic about the outcome of the IAEA delegation's visit to Iran ... Their questions will be answered during this visit."
"We have nothing to hide and Iran has no clandestine (nuclear) activities."
Striking a sterner tone, Iran's parliament speaker, Ali Larijani, warned the IAEA team to carry out a "logical, professional and technical" job or suffer the consequences.
"This visit is a test for the IAEA. The route for further cooperation will be open if the team carries out its duties professionally," said Larijani, state media reported.
"Otherwise, if the IAEA turns into a tool [for major powers to pressure Iran], then Iran will have no choice but to consider a new framework in its ties with the agency."
Iran's parliament has approved bills in the past to oblige the government to review its level of cooperation with the IAEA. However, Iran's top officials have always underlined the importance of preserving ties with the watchdog body.
The head of the state-run National Iranian Oil Company (NIOC) said late on Saturday that the export embargo would hit European refiners, such as Italy's Eni, that are owed oil from Iran as part of long-standing buy-back contracts under which they take payment for past oilfield projects in crude.
The EU accounted for 25 percent of Iranian crude oil sales in the third quarter of 2011. However, analysts say the global oil market will not be overly disrupted if parliament votes for the bill that would turn off the oil tap for Europe.
Potentially more disruptive to the world oil market and global security is the risk of Iran's standoff with the West escalating into military conflict.
Iran has repeatedly said it could close the vital Strait of Hormuz shipping lane if sanctions succeed in preventing it from exporting crude, a move Washington said it would not tolerate.
Additional reporting by Hashem Kalantari, Robin Pomeroy and Hossein Jaseb in Tehran, Svetlana Kovalyova in Milan and Fredrik Dahl in Vienna.


Clic here to read the story from its source.