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Full Article Images of January Best photos of the year 2011 Follow Reuters Facebook Twitter RSS YouTube Read Seven U.S. soldiers wounded after Afghan NATO base attacked | 9:31am EST G20 moves to line up huge rescue deal for April | 11:13am EST Oscars face big TV test with "Artist" as key film 8:52am EST Syria referendum goes ahead amid military onslaught | 11:17am EST Maine's biggest lobster returned to Atlantic Ocean 24 Feb 2012 Discussed 109 Afghans begin second day protest at Koran burning 94 Taliban urge Afghans to attacks Westerners 94 Analysis: Can United States defuse Koran burning uproar? Watched Sacha Baron Cohen gets a warning from Oscar Fri, Feb 24 2012 Treasure returned to Spain. Sat, Feb 25 2012 Video shows exact moment of train crash in Argentina Thu, Feb 23 2012 Iran says has not refused oil to Greece: ISNA Tweet Share this Email Print Related News UPDATE 3-Iran says has not refused oil to Greece -ISNA 9:56am EST Iran denies Greece oil shipment of 500,000 barrels: report 6:33am EST U.S., Saudi maneuver to contain Iran oil market threat Fri, Feb 24 2012 Iran has expanded sensitive nuclear work: U.N. agency Fri, Feb 24 2012 Iran talks failure sparks confrontation fears Thu, Feb 23 2012 Analysis & Opinion India Markets Weekahead: Crucial levels may hold, donâ€™t rush in yet The haves and have-nots of the (energy) world Related Topics World » Greece » TEHRAN | Sun Feb 26, 2012 9:58am EST TEHRAN (Reuters) - Iran said Sunday it had not blocked an oil shipment to Greece, denying earlier reports it had done so in retaliation to the EU phasing in a ban on its key export, the Iranian Student's News Agency (ISNA) reported. "There has been no change in Iran's oil shipment to Greece or any other country. No changes in our shipment schedule," said Pirouz Mousavi, managing director of the Iranian Oil Terminals Co. Earlier, Iran's semi-official Fars news agency said Tehran had refused shipment of 500,000 destined for Greek refiner Hellenic Petroleum, but a Hellenic official denied it. "That has nothing to do with us ... all supplies from Iran have been processed normally," the official told Reuters. The European Union decided in January to stop importing Iranian crude as of July 1, the latest in a series of international sanctions aimed at forcing Tehran to halt its sensitive nuclear work, as demanded by the U.N. Security Council. Iran stopped selling crude to British and French companies last week after the oil minister said Tehran would cut oil exports to "some" European countries. Brent crude surged to over $125 a barrel Friday amid fears of an escalation of tensions after the U.N. nuclear agency issued a report showing Tehran had increased its most sensitive nuclear work which the West says is part of a weapons program, a charge Tehran denies. The price of oil has increased over the fear of tightening supplies, including a threat from Tehran to close a vital oil shipping route, the Strait of Hormuz, if attacked. Israel and the United States have not ruled out military action if diplomacy fails to stop Iran getting nuclear weapons. Iran says its nuclear program is for peaceful purposes and has promised a "painful" response to any attack. The world's top oil exporter Saudi Arabia said it would compensate for any oil shortage in the market and the European Commission has said that the bloc would not be short of oil if Iran stopped crude exports, as it has enough in stock to meet its needs for around 120 days. While Europe would suffer more directly from the lack of Iranian crude than the United States, which does not buy oil from Tehran, the knock on effect of a disruption would drive up prices across the globe. Greece is considered more vulnerable than most as it is suffering a major economic crisis and has been reliant on Iran for almost one quarter of its oil imports. Traders told Reuters on February 24 that Swiss-based Totsa, the trading arm of French oil major Total, and trading house Mercuria were in separate negotiations with Hellenic to help it replace Iranian crude. Glencore, a leading Swiss-based commodities trader and one of the few that conducted business with Greece during the debt crisis, may also boost supplies, trading sources have said. Hellenic would pay back the traders with refined products, which could then be sold in Greece or abroad. (Reporting by Parisa Hafezi in Tehran and Lefteris Papadimas in Athens; Editing by Rosalind Russell and Robin Pomeroy) World Greece Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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