The European Union today shrugged off Iran's threat to cut oil to "hostile" EU nations, saying the bloc was capable of coping with any halt in supplies.
"In terms of immediate security of stocks, the EU is well stocked with oil and petroleum products to face a potential disruption of supplies," said Sebastien Brabant, a spokesman for EU policy chief Catherine Ashton.
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Iran this weekend halted sales to France and Britain and earlier today threatened to extend the ban to other nations.
The move appears to be a response to an EU-wide ban on Iranian oil that is to come fully into effect July 1 as part of Western sanctions against Tehran's nuclear programme.
Exports to Spain, Greece, Italy, Portugal, Germany and the Netherlands would be stopped "if the hostile actions of some European countries continue", said Ahmad Qalebani, who runs the National Iranian Oil Company.
Iran exports about 20 per cent of its crude, some 600,000 barrels per day (bpd), to the European Union, most of which goes to Italy, Spain and Greece.
France imports only around three percent of its oil from Iran, and Britain less than one per cent.
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