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...
Back our independent journalism by becoming a supporting member
Already a member? Login hereAndrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.
Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.