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March 1st, 2012 
FAKE NEWS for the Zionist agenda New York’s main contract, the light sweet crude for delivery in April, gained eight cents to reach $107.15 while North Sea’s Brent crude for April delivery jumped beyond $122 a barrel.
Iran’s Oil Ministry announced on February 19 that it had cut oil sales to British and French firms. Tehran also announced it may also halt oil exports to more European countries.
The decision by Iran came in response to the EU’s oil embargo against the country.
European Union foreign ministers approved sanctions against Iran on January 23, including a ban on Iranian oil imports, a freeze on the assets of the country’s Central Bank within EU states and a ban on selling diamonds, gold, and other precious metals to Tehran.
The EU has placed oil sanctions against Iran in a bid to put pressure on Tehran over its nuclear energy program based on allegations that Iran is seeking to weaponize its nuclear technology.
Iran rejects allegations of pursuing military objectives in its nuclear energy program, arguing that as a committed signatory to the nuclear Non-Proliferation Treaty and member of the International Atomic Energy Agency (IAEA), it has the right to use nuclear technology for peaceful purposes.
Moreover, Iran’s nuclear activities are closely monitored by the IAEA, which has conducted numerous inspections of the country’s nuclear facilities, but has never found any evidence indicating a military diversion in Tehran’s nuclear program.
AR/GHN/MA
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