RIA Novosti
January 29

An EU embargo on oil imports from Iran may push world oil prices to $150 per barrel, the head of Iran’s state oil company said on Sunday.

“It seems that we will witness prices from $120 to $150 in the future,” Ahmad Qalehbani, head of the National Iranian Oil Company, said in an interview with IRNA news agency.

The EU voted on Monday to ban oil imports from Iran. The move came after the Islamic Republic announced earlier this month that it had launched a nuclear enrichment program at a well-protected underground facility near the holy Shia city of Qom.

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