Iran to neutralize oil embargo

The energy commission of the Iranian parliament has prepared a special package of economic measures to neutralize the effects on an international oil embargo, Trend reports.

Deputy head of the commission Ali Marvi says that the measures include 7-8 points. Iran will use own insurance companies for petroleum tankers, the president will be responsible for oil sales. Iran will rent foreign tankers.

Foreign ministers of 27 EU states met in Brussels on January 23 and approved the embargo on Iranian oil exports. The new package of sanctions includes a gradual ban on imports of petroleum from Iran. The embargo came into full force on July 1. Exceptions were only made for old contracts.