Almost everybody had thought that Iran would never take the step of halting its oil exports, as it was the only biggest source of revenue of the country. But Iran did what it had been threatening for the last one month.
Last month, the European Union had declared of imposing severe sanctions against Iran, since it was not disclosing its nuclear operations, that included freezing its central bank assets and cutting off oil imports from Iran from July. But before they could have found an alternative, Iran did what they had threatened to do.
Iranian Oil Ministry spokesperson Ali Reza Nikzad Rahbar, had confirmed the news that oil exports to Britain and France had been halted and that ultimatums are been given to other Europeans Refineries to sign contracts for two or five years or face cut off. On response to its nuclear projects Iran had finally stated that they were not planning or working towards any destructive weapon, but were working of ways of producing electricity and medical treatment. Kiran Kidwai – International Desk, NMTV.