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(Reuters) Emma Farge - Britain will support an embargo on Iranian oil imports following the deterioration of relations between the two countries, diplomatic sources told Reuters on Wednesday. The UK "will support increased sanctions...and would likely go ahead with those sanctions unilaterally or with France and Germany," said a diplomatic source. Britain has not recently imported Iranian oil. About 450,000 barrels per day of Iranian oil is exported to the EU. Italy buys 183,000 bpd, Spain 137,000 bpd, and France 49,000 bpd. A senior trade source said that in the event of an embargo, "Saudi Arabia would have to make up the deficit in supply." 2011-12-01 00:00:00Full Article
Britain to Support Oil Embargo on Iran
(Reuters) Emma Farge - Britain will support an embargo on Iranian oil imports following the deterioration of relations between the two countries, diplomatic sources told Reuters on Wednesday. The UK "will support increased sanctions...and would likely go ahead with those sanctions unilaterally or with France and Germany," said a diplomatic source. Britain has not recently imported Iranian oil. About 450,000 barrels per day of Iranian oil is exported to the EU. Italy buys 183,000 bpd, Spain 137,000 bpd, and France 49,000 bpd. A senior trade source said that in the event of an embargo, "Saudi Arabia would have to make up the deficit in supply." 2011-12-01 00:00:00Full Article
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