14 April 2012
TEHRAN - The Trade Promotion Organization of Iran (TPOI) has stopped importing goods from 100 European companies in response to the bellicose stances adopted by some European states toward the Islamic Republic. TPOI official Ehsan Khodaee told the Mehr News Agency that the companies were exporting luxury and consumer goods to Iran. He added that the companies have been officially informed of the decision. On January 23, EU foreign ministers approved sanctions against Tehran, including a ban on Iranian oil imports, a freeze on the assets of the Central Bank of Iran (CBI) within the bloc's states, and a ban on selling diamonds, gold, and other precious metals to Tehran.
The EU sanctions are meant to coerce Iran into abandoning its nuclear energy program and based on allegations that Tehran's civilian energy program may be a cover for efforts to acquire a nuclear weapons capability. Iran rejects the allegations, arguing that as a committed signatory to the nuclear Non-Proliferation Treaty and member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes. Last week, Iran terminated oil sales to two major Greek firms -- Hellenic Petroleum and Motor Oil Hellas-- over their failure to pay for their crude purchases from Tehran.
Earlier in 2012, Iran cut oil exports to France and Britain in retaliation for the Western-led sanctions on its oil industry. Iran managed to scale up trade with 160 countries in Iranian calendar year 1390, which ended on March 19, despite the global economic sanctions against the Islamic Republic, Customs Administration Director Abbas Memarnejad said on April 3.
Non-oil trade balance decreased to $17.9 billion in the year 1390 from $30.5 billion the year before, he added, the IRNA news agency reported. He also said that exports rose by 28 percent year on year, while imports declined by 4 percent.
TEHRAN - The Trade Promotion Organization of Iran (TPOI) has stopped importing goods from 100 European companies in response to the bellicose stances adopted by some European states toward the Islamic Republic. TPOI official Ehsan Khodaee told the Mehr News Agency that the companies were exporting luxury and consumer goods to Iran. He added that the companies have been officially informed of the decision. On January 23, EU foreign ministers approved sanctions against Tehran, including a ban on Iranian oil imports, a freeze on the assets of the Central Bank of Iran (CBI) within the bloc's states, and a ban on selling diamonds, gold, and other precious metals to Tehran.
The EU sanctions are meant to coerce Iran into abandoning its nuclear energy program and based on allegations that Tehran's civilian energy program may be a cover for efforts to acquire a nuclear weapons capability. Iran rejects the allegations, arguing that as a committed signatory to the nuclear Non-Proliferation Treaty and member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes. Last week, Iran terminated oil sales to two major Greek firms -- Hellenic Petroleum and Motor Oil Hellas-- over their failure to pay for their crude purchases from Tehran.
Earlier in 2012, Iran cut oil exports to France and Britain in retaliation for the Western-led sanctions on its oil industry. Iran managed to scale up trade with 160 countries in Iranian calendar year 1390, which ended on March 19, despite the global economic sanctions against the Islamic Republic, Customs Administration Director Abbas Memarnejad said on April 3.
Non-oil trade balance decreased to $17.9 billion in the year 1390 from $30.5 billion the year before, he added, the IRNA news agency reported. He also said that exports rose by 28 percent year on year, while imports declined by 4 percent.
© Tehran Times 2012
