Monday, October 29, 2012

If Europe Tighten Sanctions, Iran Stop Oil Exports

Dubai, (AFP). Iran, Tuesday (23/10) said it would stop oil exports if Western nations tighten sanctions against the country. Tehran will implement strategies possible "Plan B" in order to survive without foreign oil.
Western countries led the U.S. has imposed sanctions on the Islamic Republic's strict this year in a bid to curb its nuclear program which they
say is aimed at producing atomic bombs.

But Tehran's nuclear plans are still declared for peaceful purposes.

"If the sanctions are tightened, we will stop exporting oil," said Iran's Oil Minister Rostam Qasemi told reporters in Dubai.

The statement noted Qasemi latest in a series of Tehran responds replies threats of sanctions, which have raised tensions in the Middle East region.

"We are preparing a plan to run the country without foreign oil," Qasemi said, adding, "So far we have not had serious problems, but if we expanded sanctions will apply a" Plan B. "

"If you continue to increase the sanctions we will decide on oil exports to the world." Iran in the past has said it will shut down vital shipping lanes at the mouth of the Gulf of Hormuz Middle East, where the region's marine oil exports pass.

Tuesday morning, Qasemi said Iran was producing four million barrels per day. He denied reports the country's production decreased to about 2.7 million barrels per day.

According to the two most recent resource estimate published by OPEC, Iran pumped only 2.72 barrels per day in September.

While the data submitted to Iran indicates Tehran OPEC produces 3.75 million barrels per day in August. (Rtr / es)

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