Europe's Oil Firms Resist US over Iran

story by AlJazeera

European oil giants are resisting US pressure to stop buying Iranian crude oil, saying they will leave the country only when their contacts expire.

US Deputy Secretary of State James Steinberg said last Thursday that France's Total, Norway's Statoil, Italy's ENI and Royal Dutch Shell would suspend dealings with Iran voluntarily, in support of US-engineered sanctions against Iran over its nuclear work.

All four firms, however, said on Friday they would maintain dealings with Iran.

Moreover, France's Total announced Friday that it was still purchasing Iranian crude while Royal Dutch Shell noted that it was not illegal to take delivery of Iranian crude under the latest United Nations sanctions, Reuters reported.

Norway's Statoil, meanwhile, stated that it was providing Tehran with technical assistance.

Italy's ENI also said it would exit Iran only when existing deals expire.

Following US-engineered UN sanctions against Iran in June, the United States and the European Union moved to impose additional unilateral sanctions against the Islamic Republic.