Members of the Iranian parliament finalized a draft bill to ban all oil exports to European countries in reaction to the bloc's recent decision to ban oil imports from Iran, Vice Chairman of Iran�s Parliamentary Energy Commission Nasser Soudani said on Saturday.

The Iranian MPs decided to work out the plan after the European Union formally imposed an oil embargo on Iran and agreed to a freeze on the assets of the Central Bank of Iran on January 23.

"This bill has four articles, and one of its main points states that the Islamic Republic of Iran will cut off any kind of oil export to European countries until these countries lift the sanctions against the country," Naser Sudani said.

Sudani added that the bill may undergo further modifications as a number of MPs believe that oil exports to EU should be stopped for a period of five years.

"Another article of the draft bill requires the government to stop all kinds of import from the countries that supported the sanctions against Iran," he stated.

"However, the national security and energy committees should announce their views on the plan," he added.

 

Sources: Press TV, Fars News Agency, Tehran Times, Investors