Turkish petroleum giant breaks all contracts with Iran

Turkish oil giant company Turkish Petroleum Refineries Co (TUPRAS), followed European energy giants by announcing the breaking off of all existing contracts with Iran. The breaking of relations with Iran was a direct result of pressure from the United States, expressed in an official request from the State Department. However, Turkey’s oil minister Taher Yaldiz stated that TUPRAS is a privately held firm and made a decision without any consultation with the authorities.

”The private sector can continue to trade or stop trading. The Turkish Government has no relation to the sanctions and does not have any statements in this regard”, - said the Turkish minister. Earlier, Minister of Foreign Affairs of Turkey, Ahmet Davutoglu said that Turkey will expand economic ties with Iran because it is in the national interest of Turkey, Tehran times reported.

As Armenia News-NEWS.am reported earlier, four major energy companies will also stop work in the Iranian market in accordance with the economic sanctions imposed by the U.S. against Iran. The companies Royal Dutch Shell, French Total, Norwegian Statoil and Italy’s ENI, stopped trade in order to avoid penalties by the U.S. against companies doing business in Iran. Despite the threat from the Americans, the Swiss Naftiran Intertrade Co the company chose to remain in the Iranian market.