Iran to take Action Against the West by Banning Oil Exports to the EU?

Well, it kind of depends on a few factors such as;

1) Will Iran be able to make up its lost sales to the EU by increased sales to India and China? And paying in gold to the detriment of the dollar?
2) Will EU importers try to import Iranian oil through 3rd parties? If this is at all possible?
3)Will the alternative suppliers be increasing their 'costs' for increasing their supplies to the EU to replace Iranian oil? Will non Iranian oil become even dearer?
4)Oil is still a sellers market. Saudi oil production is said to be gradually declinming. They may actually have difficulty sustaining the effort to make up the loss of the 20% market share that Iranian oil is said to represent.
5) Depending on how long these sanctions last, or more importantly how long they remain effective, if the EU decides to return to Iran, will Iran want to return to the EU? If so will her terms be much more severe?
6) In the longer term Iran weill have control over Iraq oil, said to be potentially almost as great a resource as Saudi. Once the West comes to its senses over Iran, will it (the West) have to pay a price for its present folly with Iran? Saudi in decline, Iraq as yet with huge untapped potential; is the West in danger of shooting itself in the foot?

7) Longer term again, whatever happens in Syria Iran will likely retain an influence once all the hulabaloo has died away. Iran may then take a leaf out of the Syrian rebels book in its dealings with The Gulf States and Saudi Anbar. More oil problems on the horizon there.
Is managing Israel's paranoia over Iran's nuclear worth all this? or is there some darker more hidden agaenda between Iran and the West?
Something doesn't quite add up here...