Iran is considering banning all oil exports to the European Union for five to 15 years, a senior Iranian lawmaker was quoted as saying on Sunday, while the country's deputy oil minister said prices would surge should the EU stop importing Iranian crude.
Iran on Sunday declared itself optimistic about the United Nations experts' visit aimed at probing suspected military aspects of its nuclear program, and its lawmakers postponed debate on a proposed halt to oil flows to the European Union watched closely in energy markets.
Chancellor Angela Merkel attempts to deflect growing international pressure on Germany to agree an increase in the Eurozone's bailout funds Sunday by saying talks were continuing.
Oil prices could rise as high as $150 per barrel because of the European Union ban on imports of Iranian crude, the country's deputy oil minister was quoted as saying by the official IRNA news agency on Sunday.
UN nuclear inspectors arrive in Iran as Tehran prepares to ban oil exports to Europe in retaliation over European Union sanctions.
European companies owed oil by Iran could lose out should Tehran impose a ban on crude exports to the European Union next week, the head of Iran's state oil company said Saturday. Iran's parliament is due to debate a bill Sunday that would cut off oil supplies to the EU in a matter of days.
Irish voters would narrowly back a proposed European Union treaty to tighten budget rules if it were put to a referendum, an opinion poll showed on Saturday, but about one-quarter of those questioned said they were still undecided.
Greece and its private creditors said on Saturday they were piecing together the final elements of a debt swap, and they expected to have a deal ready next week, which would be essential for sealing a new bailout and avoiding an uncontrolled default.
State Bank of India, the country's biggest lender, said it could revive international fundraising plans in 3-4 months, in a sign it believed the eurozone crisis might be easing.
Fighting sanctions with sanctions in a test of strength with the West over its nuclear ambitions, Iran warned on Friday it may halt oil exports to Europe next week in a move calculated to hurt ailing European economies.
Europeans are making progress in overcoming the Eurozone crisis, but they need to do more to bolster their financial firewall, International Monetary Fund Managing Director Christine Lagarde said on Saturday, adding that the IMF is ready to help.
Japan and South Korea are Iran's third and fifth biggest oil customers, but the United States, looking for international support for new sanctions pressuring Iran's oil sector, would like that to change.
The European Union is deliberating on a €150 million ($197 million) aid package for Myanmar, according to the latest report.
Greece and its private creditors made progress Thursday in talks on restructuring its debt, both sides said, and they will continue negotiating on Friday with the aim of sealing an agreement within a few days.
The European Central Bank remains no closer to agreeing on whether or not it will take losses on the Greek bonds it owns, Eurozone central bank sources said on Thursday.
Ahmadinejad is the highest Iranian government official thus far to offer to re-start the talks.
Greece's tortuous negotiations over a debt swap with private creditors entered a new phase on Thursday with focus on how much the European Central Bank and other public creditors may need to contribute.
Throughout all of Europe we have seen the rise in the polls of extreme right political parties.
Greece resumes tortuous negotiations on a debt swap with private creditors in Athens on Thursday, with all eyes on the European Central Bank after IMF chief Christine Lagarde said public sector holders of Greek debt may need to take a haircut too.
China Thursday criticized the European Union for banning oil imports from Iran, Beijing's third biggest crude supplier and a major trading partner.
David Cameron says Doha world trade talks dead and urges 'coalition of the willing' with bilateral deals between countries.
The euro and European shares weakened on Wednesday as fears about the prospect of a Greek debt default overwhelmed positive news on the outlook for Germany, the region's largest economy.
