This paper considers the possible outcomes of an EU embargo on oil exports from Iran.
TAGGED: energy security
- The initial impact is that the EU countries will have to find alternative supplies to replace their imports of heavy, sour crude from Iran.
- The hunt for alternative supplies will create transitional friction for oil prices. Thus prices for heavy source crude in the Atlantic basin markets would increase and in Asia-Pacific they would decrease as Iran tried to find alternative outlets for the crude originally destined for European markets. . .
, EU energy policy
, foreign oil
, Chatham House