Publishe Date: 8:32 PM - 9/17/2012 | Print

Iran oil industry not isolated by foreign sanctions: Minister

Economy - Iran’s Oil Minister Rostam Qasemi says the country’s oil industry is the main force against foreign sanctions which has defeated enemies’ efforts to isolate Iran in the world.

“The West is trying to disrupt Iran’s oil sales and exports by exerting different pressures [on the country] and keep Iran away from global markets. But Iran’s oil staff … has thwarted these attempts,” Qasemi said on Monday.


The minister said the world has waged an “economic war” against Iran and its oil sector, adding, “Although this war is complicated and the enemy is undertaking huge efforts to succeed, all of the country’s officials are doing their utmost to maintain Iran’s presence in the global markets in a bid to foil the enemy’s objectives.”

Qasemi said formulating development plans, signing contracts, and funding projects related to oil and gas fields shared with neighbors are the oil industry’s main solutions to counteract this economic war.

“Due to these policies, Iran’s oil industry is currently at its best.”

Under pressure from the United States, the European Union (EU)’s foreign ministers approved new sanctions against Iran's oil and financial sectors last January.

The sanctions, which prevent the EU member states from purchasing Iran's oil or extending insurance coverage for tankers carrying Iranian crude, came into effect on July 1.

On August 1, the US Congress approved more illegal embargoes against Tehran, which seek to punish banks, insurance companies, and shippers that help Tehran sell its oil.
press tv/281

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