Iranian blames EU for hike in oil prices

"The European Union (EU) set a deadline for imposing sanctions on Iranian oil and ultimately these sanctions led to a sudden increase in the price of black gold in world markets," Qassemi said on Friday. He reiterated that the country will definitely be the winner of the economic war waged against Iran by Western countries. The Iranian minister urged Westerners to learn from this price increase and behave logically. "Iran without a doubt will be the winner of the economic war with the West," he added. "Despite sanctions (against Iran), the development of the oil industry has not been stopped and there is no lack of goods and equipment (in the country)," he said. He added that the development plan for 19 phases of the South Pars gas field has been granted to Iranian contractors and producers which will replace Royal Dutch Shell and France's Total in the field. Foreign ministers of the EU member states met in Brussels on January 23 and approved new sanctions against Iran which forbid member countries from importing Iranian crude and doing business with the Central Bank of Iran (CBI). The EU sanctions against the Iranian oil sector will take effect on July 1. Tehran has already cut oil exports to several European countries as part of its countersanctions in response to the EU measure. Oil prices have shot up in recent months in the wake of Iran's decision to halt its crude exports to certain European countries in response to the European Union (EU) oil embargo on Tehran. Qassemi had in April confirmed that the country has halted oil supplies to Greece. "Right now, Iran's oil is not exported to Greece," he said. Iran had also earlier cut oil exports to France and Britain. Iran's Oil Ministry announced on February 19 that it had cut oil sales to British and French firms. Tehran also announced it may also halt oil exports to more European countries. Meantime, news of Iran cutting supplies to six EU member states caused a lot of concern in Europe and in the world's markets. The bloc currently buys about 18% of Iran's oil exports. Iran is the world's 4th largest oil supplier, with China, Japan, and India its largest buyers.