Russia warns EU Iran oil embargo will be costly
Russia pressed its case against new sanctions over Iran's nuclear program on Friday, saying an European Union ban on purchasing Iranian oil would end up hurting the bloc's member countries.
"The European Union is rejecting purchases of Iranian oil, even though very many EU countries depend on this oil," Foreign Minister Sergei Lavrov said in an interview on state-run Rossiya 24 television. "One can say, of course, that the deficit will be covered, but (some) refineries are geared specifically to Iranian oil ... and readjusting them will demand substantial investments that the EU can hardly afford now," he said. (Reuters)
