Reuters quoted Iran as saying that the European Union definitely will not impose sanctions on the country's oil exports as the measure will harm the global crude market.

Mr Rostam Qasemi oil minister of Iran said that “Our policy is sustainable supply of oil to Europe. Iran is a major oil producer and any sanctions on our oil export will definitely harm the global market.”

EU leaders called for more sanctions against Iran by the end of January in an effort to increase pressure on Tehran over its nuclear program which the US and its allies say is a cover to build bombs.

(Sourced from Reuters)