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February 15th, 2012 
FAKE NEWS for the Zionist agenda Iran has stopped crude supplies to Spain, Italy, France, Greece, Portugal and the Netherlands, reports Iran’s Press TV.
Tehran has fulfilled its threat to retaliate for the EU’s oil embargo, agreed by the bloc in January. Ever since, officials within Iran have been calling to cork the black gold stream to “hostile” European nations, targeting economies weakened by the ongoing financial crisis. On Wednesday, these calls became reality.
Out of the six sanctioned countries, Italy, Spain and Greece account for up to 68 per cent of Iranian oil consumed in Europe. Half of Spanish and a third of Greek oil imports come from that country. The Spanish ambassador to Tehran has voiced deep concerns that the EU embargo would backfire on Madrid’s staggering economy, especially if Iran chooses to take a pre-emptive action.
The news from Tehran immediately sent Brent crude prices up nearly $2 a barrel to $119.28, hitting a six-month high. Iran is the world’s third-largest oil exporter, only behind Saudi Arabia and Russia.
The EU’s 27 member states adopted the oil embargo on January 23. It immediately banned new oil deals with Iran and implemented a total boycott of Iranian oil from July 2012. The EU embargo followed tough US sanctions approved earlier last month. Taken together, they remove 2.6 million barrels of oil from international markets.
Western leaders insist Iran is on a dangerous path towards acquiring nuclear weapons and demand it halts its program. Tehran consistently denies such ambitions, saying its nuclear intentions are civilian, not military.
Meanwhile, Iran has taken the final step to complete the nuclear fuel cycle. On Wednesday, Iran’s President Mahmoud Ahmadinejad inserted the first Iranian-made nuclear fuel rod into the reactor in north Tehran, reported the official news agency IRNA. The ceremony, broadcast live on the state TV, showed nuclear experts briefing Ahmadinejad on the process.
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