Iran has made a new oil deal offer to European countries, except the countries of Britain and France: “They must know that our country is in a position which must be talked to and treated on equal standing and through mutual respect, and they must forget about their past empires and exploiting other countries.”-Ramin Mehmanparast, Foreign Ministry of Iran

For all other European countries Iran is willing to continue shipping oil to them if: “They…must sign medium, or long term contracts covering periods of three to five years….and ban….oil customers from unilaterally canceling their contracts.”-Ramin Mehmanparast, Foreign Ministry of Iran

Iranian officials say that by signing the long term contracts European countries could get a fixed price for Iranian oil.  If they don’t sign contracts, then no more oil for you: “We make decisions in our own country and we have sanctioned hostile states; if other countries do not specify their decision about long term oil contracts, Tehran will make a decision about them as well.”-Rostam Qassemi, Oil Minister of Iran

Iranian officials claim they don’t really need the European market, saying only 18% of all of Iran’s oil production goes to Europe.