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June 19th, 2012 
FAKE NEWS for the Zionist agenda Russia’s English news channel Russia Today has reported that the EU’s oil embargo against Iran would strike back at Britain as the London-based insurance market would be deprived of Iran’s oil buyers.
In late January 2012, in a bid to impose pressure on Iran to abandon its peaceful nuclear energy program, EU foreign ministers approved a package of restrictive measures against Iran including a ban import, purchase and transportation of Iran’s oil and a ban on insurance operations.
In response, Iran decided to cut oil sales to certain European countries including Britain and France, which led to an increase in the pump price of petrol and diesel.
Moreover, depriving the London-based insurance market, which protects 95% of the tanker shipments against oil spills or collisions, of fees stemming from the profitable oil market would deliver a severe blow to the British economy.
Official figures released by Britain’s Office for National Statistics showed that British economy has entered a double-dip recession after the British economy’s 0.3% contraction following a 0.3% plunge in Britain’s Gross Domestic Product (GDP).
ISH/JR/HE
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