Iran secures needed fuel in case of sanction

Iran is able to secure its needed gasoline from different foreign sources, or through domestic production if faced with gasoline import sanctions, Iran's Oil Minister says.

"Foreign companies will actually sanction themselves if they stop selling gasoline to Iran," Masoud Mir-Kazemi told reporters on Monday, adding that those foreign firms will put their names on Iran's black list.

The official said that the country has so far successfully dealt with any problem arising in purchasing gasoline.

"Under an urgent plan, Iran will boost gasoline production by 14 million liters per day if the country finds it necessary," he said.

Some 44.7 million liters of gasoline are being produced daily in seven domestic refineries.

Though Iran is the world's fifth-largest crude exporter, it still has to import up to 40 percent of its gasoline.

Mir-Kazemi said that by constructing new refineries, the country will not only stop gasoline imports but will also start exporting gasoline to other countries.

In January, the US Senate approved a bill that would allow President Barack Obama to impose new sanctions on Iran over its nuclear program.

The measure will now move to a conference committee to iron out differences with an already-passed House version.

President Obama will have the power to deny loans and other assistance to US firms that export gasoline to Iran or help expand its oil-refining capacity.

President Mahmoud Ahmadinejad has recently rejected the possibility of imposing sanctions on Iran's gasoline imports and urged the Oil Ministry to build refineries more quickly to make the country self-sufficient in gasoline production.


/Press TV/