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11 January 2012 - 23:05

The Iranian Foreign Ministry Spokesman says by imposing oil sanctions against Iran, the US and its allies are entering a dangerous game which will have consequences for them.

Referring to Iran as the fourth largest crude oil and second gas exporter, Ramin Mehmanparast said on Tuesday that imposing sanctions on Iran's energy sector is impossible.

“For economic progress countries have no driving force other than sustainable and long term energy, so they must answer how one can limit or block the source of this energy,” Mehmanparast added.

He added that over the past 32 years Iran has always succeeded in turning sanctions and economic hardships into opportunities and will not surrender to the ploys used by arrogant powers.

European Union (EU) member states will meet later this month to discuss the proposed embargo on Iran's oil exports.

EU states have already agreed on the general outlines of Iran's oil embargo as the latest in a series of measures taken by Western states to increase pressure on Tehran over its nuclear program. However, EU members have failed to reach a final agreement on details such as the exact timing of the sanctions.

European measures against Iran's oil industry will complement US sanctions announced on New Year's Eve that aim to make it impossible for most refineries to buy Iranian crude.

On Saturday, December 31, 2011, US President Barack Obama signed into law fresh economic sanctions against Iran's Central Bank requiring foreign financial firms to make a choice between doing business with Iran's Central Bank and oil sector or with the US financial sector.

Iran's military and civilian officials have threatened that if an oil embargo is actually imposed on the country, Iran will respond by closing the strategic Strait of Hormuz making it impossible for other oil producing countries in the Persian Gulf to export oil as well.
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