By Octavio Abea
Britain and France have been cut off from Iranian oil exports Sunday in a tactical response to the European oil embargo made to put pressure on Iran, according to Iran's oil ministry.
In the mostly sybolic move, Iran is lessening the blow of the European embargo by targeting countries that supported the economic sanctions, The Washington Post reports.
Half of Iran's national budget is made up of oil sales, which account for 80 percent of exports with Asia being 70 percent of that and the European Union being 18 percent, The New York Times reports.
The European Union is also making it more difficult for Iranian banks to access currency from its foreign oil customers by excluding them from the international financial system known as SWIFT, The Washington Post reports.
This is a result of Iran's growing nuclear program, which they deny has any military intent, and their recent announcment to begin a new array of centrifuges to enrich uranium, The New York Times reports.