Fuel sales to Iran halted
That should make Iran fuel supplies tight. It may even require more rationing. Iran has had trouble raising the price to market levels and it will be interesting to see what can of mechanism it chooses for rationing. Rationing by price is usually the best method.
French energy company Total says it has stopped petrol deliveries to Iran, amid growing international pressure over Iran's nuclear programme.
Total confirmed the move days after the US Congress passed unilateral sanctions that could punish companies doing business with Iran.
The sanctions still have to be signed into law by US President Barack Obama.
Other companies have already taken similar action to Total in anticipation of the measure passed by Congress.
Spain's Repsol confirmed on Monday that it had withdrawn from a contract it won with Royal Dutch Shell to develop the South Pars gas field in southern Iran, Reuters news agency reported.