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Iran stops sales of crude oil to UK, France

Saudi Arabia says it is prepared to supply extra oil either by topping up existing term contracts or by making rare spot market sales. Iran has criticized Riyadh for the offer.

The EU's new sanctions includes a range of extra restrictions on Iran that went well beyond UN sanctions agreed last month and included a ban on dealing with Iranian banks and insurance companies and steps to prevent investment in Teheran's lucrative oil and gas sector, including refining.

Questions:

1. When will the EU stop importing crude from Iran?

2. How many days worth of stock does the EU have at the moment?

3. How many barrels per day was Iran supplying to the EU plus Turkey in 2011?

Answers:

1. July 1

2. 120 days

3. 700,000

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