iran oil
© Press TVFile photo shows gas flares from an Iranain oil production platform.
A senior European Union official says the bloc may in the next two months review the sanctions imposed on the Islamic Republic's oil industry, which are scheduled to take effect in July.

"The situation in oil markets is being kept under close review," Reuters quoted the official, who spoke on condition of anonymity, as saying on Friday.

European countries including Greece are facing difficulty finding alternative suppliers, he added.

Tehran decided to cut crude exports to certain European countries after EU foreign ministers agreed on January 23 to ban oil imports from Iran and freeze the assets of the country's Central Bank across the EU.

Iran has already cut oil exports to France and Britain as part of its countersanctions.

Last month, crude prices reached a peak after Tehran's decision to adopt the countersanctions, pushing gasoline prices in the US and UK to record highs.

Iran says the sanctions have not stopped it from signing new contracts with new customers.

"Iran has no problem in exporting its oil," Iranian Oil Minister Rostam Qasemi said on Thursday