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(hydrocarbonprocessing) -- The EU could handle a sudden
end to imports of Iranian oil because of changes already being made due to the
coming ban on Iranian shipments, an IEA official said. But the official
also warned that the standoff has the potential to hurt the global economy by
pushing oil prices higher.
The European Union (EU) could handle a sudden end to imports of Iranian oil
because of changes already being made due to the EU’s coming ban on Iranian
shipments, an International Energy Agency (IEA) official said Monday, according
to media reports.
"France and the UK have already stopped buying crude from Iran" ahead of an
embargo scheduled to start in July, said Didier Houssin, the IEA's director of
markets and securit.
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