Iranian oil firms to EU: "We'll see you in court"

Published October 18th, 2012 - 01:00 GMT
Iran looks set to take the EU to court over "illegal sanctions"
Iran looks set to take the EU to court over "illegal sanctions"

Iranian private oil companies plan to lodge a complaint against the European Union in international courts in protest to illegal the bloc’s “illegal sanctions” against Iran, the Fars News Agency quoted a source familiar with the issue as saying on Wednesday.

The source, speaking on the condition of anonymity, added that some of the companies, which have been included in the EU’s sanction list, are carrying out projects overseas and gain huge revenues, so they are seeking ways to be able to continue their activities and settle the problem through international courts.

Economic experts say Iran’s private sector will fill the gap created by Western-led sanctions on Iran’s oil sector and central bank. On September 2, Mohammad-Ali Khatibi, Iran’s OPEC governor and director of the National Iranian Oil Company, said Iran's oil exports are at their normal level and are unaffected by Western embargoes. 

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