Iranian Oil Minister announced that Iran will halt oil exports to certain countries soon in reaction to the EU sanctions

Iranian Oil Minister Rostam Qassemi announced that Iran will halt oil exports to certain countries soon in reaction to the European Union sanctions on Iranian oil which will take effect from July 1.
  
The Parliament's Energy Commission is currently studying to draft a bill to stop oil exports to European countries, IRNA reported.
In the meantime, the EU said that it would examine the market situation in May to decide whether or not to go ahead with the sanctions.

India, the world's fourth-largest oil consumer, said it would not take steps to cut petroleum imports from Iran despite US and European sanctions.

"It is not possible for India to take any decision to reduce the imports from Iran drastically, because among the countries which can provide the requirement of the emerging economies, Iran is an important country amongst them," Finance Minister Pranab Mukherjee told reporters on a visit to the Unites States.

Russian Foreign Minister Sergei Lavrov told reporters in Oakland on Monday that Iran’s decision is a response to the EU’s sanctions, something that Lavrov said Moscow describes as ‘counterproductive’.

Brussels in turn voiced hope that Saudi Arabia, Libya and Iraq will increase oil supplies to EU countries in the immediate future.