Turkey cuts Iran oil imports by 20pc
St Petersburg (Russia), June 23, 2012
Turkey's sole refiner Tupras has cut imports of Iranian crude by 20 per cent, Turkish Energy Minister Tamer Yildiz said.
Yildiz said Turkey would continue to source 'a certain amount' of crude from its neighbour Iran but would compensate for the reduction by taking more from Saudi Arabia and Libya.
Speaking to reporters at the St Petersburg Economic Forum he said Turkey was settling oil payments to Iran in Turkish lira.
Iran's oil buyers have been cutting oil imports to avoid U.S. financial sanctions that aim to stop Iran's nuclear programme. Washington is pressing Turkey to cut supplies over the next six months or face sanctions.-Reuters