The EU formally imposed an oil embargo on Iran and agreed to a freeze on the assets of the Central Bank of Iran on January 23, but existing contracts will be honored until July 1. 

 

It was announced on January 5 that the Iranian parliament had been discussing a plan calling for a halt to Iran’s oil exports to the European countries that voted for sanctions on Iran’s oil industry. 

 

“So far a number of ambassadors of European countries, including France, Greece, Italy, and Germany, have frantically come to the parliament and the Foreign Ministry asking the Majlis to practice self-restraint in regard to the ratification of the plan to cut oil exports to Europe,” Soudani, who is a member of the Majlis Energy Committee, told the Persian service of the Fars News Agency on Saturday.