A number of economic experts and analysts confirmed that several European countries cannot afford the economic burden caused by the boycott of Iranian oil, especially in the current stage and the slow steps towards recovery from the point of the economic crisis that swept the world and Europe in particular.
The economist Hani Al-Khalili said in a statement to CNN Arabic posted Monday that "international sanctions on Iran have negatively affected the European countries more than the desired impact on Iran, especially amid these difficult economic conditions."
Khalili noted that "changing and re-modeling the European oil refineries specially designed to match the oil from Iran, will cost millions of dollars. These are additional costs that will fall upon the economy in some European countries, especially those that are still struggling to get out of the financial crisis repercussions."
Khalili pointed out that “the attitude of European countries is difficult now, where you cannot say for sure how long the sanctions imposed on Iran will last, and whether the solution of the Iranian nuclear issue is near term or not; therefore, any amendment to the oil refineries will be considered a waste of money in case an international agreement with Iran has been reached out."
A number of the concerned observers said that the recent steps taken by Iran to halt the oil supply for a number of European parties show an indifference to the sanctions imposed on it, and that they are ineffective in cracking down on the Iranian regime to prevent the nuclear issue from moving forward.
According to a previous report broadcast earlier on the Iranian state television, the sanctions imposed by the United States and European countries on Iran have failed and could not achieve the desired goals, to deter Iran from pursuing its nuclear projects first and foremost.
The report, broadcast on “Press TV”, quoted a Netherlands-based Iranian diplomat, Kazem Gharib Abadi, as saying that "sanctions imposed have failed in dispersing rows of Iran, and making an imbalance between the Iranian people and the government."
Abadi, Iran's Permanent Representative to the Executive Council of the Organization for the Prohibition of Chemical Weapons (OPCW), added that "sanctions against Iran are not new, where the United States imposes sanctions and barriers on the Islamic Republic of Iran 30 years ago."
In another report, “Press TV" noted that Iran had halted dealings with two Greek oil companies because of failure to meet payment, in a move designed to bring a message to the international community stating that Iran is still economically strong enough to select its trading partners and is not forced to Search for any commercial party to sell its wealth.