The European Commission has noted that "there is a lot of oil around" inside reserves in EU countries even if Iran makes good on threats to stop deliveries next week.
Iranian MPs are due to discuss on Sunday (29 January) whether to immediately stop shipping an estimated 600,000 barrels of crude oil a day to member states in reaction to recent EU sanctions.
The Union on Monday said it would stop buying Iranian oil in July unless it falls in with UN demands on its nuclear programme...
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Already a member? Login hereAndrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.
Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.