Iranian parliament to study ban on oil exports to Europe

The National Security and Foreign Policy Commission of Iran\'s Majlis (parliament) is set to study Tuesday a plan that may put bans on Iran\'s oil exports to the European Union (EU) states, the state IRIB TV website reported. Deputy head of the Majlis National Security and Foreign Policy Commission, Hossein Ebraimi, said Tuesday that \"the plan to stop oil exports to Europe will be studied in the Majlis commission with the officials of Oil Ministry today,\" according to IRIB. \"We need to adopt proper response to Iran\'s oil sanction (by the EU),\" Ebraimi was quoted as saying. The sanction on Iran\'s oil by the EU is in fact \"a suspension,\" that is, the EU states have postponed the sanctions to six months later in order to pass the winter in which they need more oil, he was quoted as saying. The objective of this postponement is to find substitutes for Iran\'s oil during this time and to prevent their refineries\' closure, he said, adding that by this they want to make sure of not losing anything. A senior Iranian lawmaker said Monday that the EU\'s ban on oil imports from Iran will be a \"hefty economic loss\" for Europeans. \"Countries which voted for (oil) sanctions against Iran have been unaware of the impact that this measure will have on them and have been unable to understand hefty economic losses which they will suffer under these critical conditions,\" said Esmail Kowsari, a member of the Majlis National Security and Foreign Policy Commission. Kowsari said Iranian lawmakers had prepared a bill to stop oil exports to the EU. The bill was in final stages of approval and would give a suitable response to the West\'s hostile measures against Iran, he said. The lawmaker said that stopping oil exports to the EU by Iran would deal a heavy blow to hundreds of European refineries. In the past few days, some Iranian lawmakers said Iran\'s Majlis would discuss a bill over a ban on oil exports to the EU. However, the Majlis Energy Commission said Sunday that no bill had been drafted or brought to the legislature regarding that matter. Iranian Oil Minister Rostam Qasemi said Sunday that his country would soon stop oil exports to certain EU members. \"According to the Oil Ministry\'s future plans, we will cut our exports to certain countries\" in response to the EU\'s recent oil embargo against Iran, Qasemi told reporters. \"Less than 20 percent of Iran\'s oil exports are destined for Europe\" and the EU sanctions would take a heavy toll on the European people, Qasemi said, adding that the embargo would not create a problem for Iran\'s oil exports even if sales to Europe were halted. The EU foreign ministers decided last week to embargo Iran\'s oil and related products, causing investors to worry about the global oil supplies as Tehran had threatened in retaliation to close the Strait of Hormuz, a key shipping lane for the trade. Major EU importers of Iran\'s oil, such as Greece, Italy and Spain, have to find alternative oil suppliers until July 1, when the embargo comes into force.