The vast majority of Hydrocarbon Processing readers believe the European Union (EU) won’t completely follow through on threats to embargo imports of Iranian oil.

In all, 69% of readers predict the EU won’t finalize such a stance, made amid an ongoing dispute regarding the Iran nuclear program.

Skeptics have said that the upward pressure on oil supply and prices would be too much of a market deterrent for government leaders to carry out such a measure.

On the other hand, the remaining 31% of readers say the EU will eventually proceed with the embargo, under the logic that major sanctions are needed against the program.

The US has recently joined France and Britain in pushing for the embargo, perhaps as soon as January 2012. The nations are said to be seeking help from Arab and Asian allies.

Iran was the world’s No. 3 crude exporter in 2010.

To see more details on the poll as well as access prior Hydrocarbon Processing poll results, click here.

(Editor’s note: Polls are where we at Hydrocarbon Processing gather industry sentiment on significant issues of the day. Visit the HP home page to weigh in on our latest poll on possible US ethane cracker locations.)