According to Reuters, Greece is relying on Iranian oil to cover most of its energy needs “as traders pull the plug on supplies and banks refuse to provide financing for fear that Athens will default on its debt”.
Despite Washington and Brussels’ pressures to halt trade relations with Iran due to its nuclear programme, the Middle East country is the last possible supplier for Greece, since the latter’s terrible financial situation in Greece has forced the country to stop purchasing oil from Russia, Azerbaijan and Kazakhstan over the past months.
Greece relies on oil imports and Iran, given its own difficulty in selling crude, will be probably working on an “open credit, reported an international oil trader to Reuters.
Shipping data obtained by Reuters showed four cargoes transporting crude in Greece within the past 3 months.
However, the EU said this week it may consider oil sanctions against Iran within the coming weeks, after a U.N. agency said Tehran had worked to design nuclear bombs.