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Iran warns oil price can reach $250

05 December 2011 [14:21] - TODAY.AZ

Iran warned the West on Sunday any move to block its oil exports would more than double crude prices with devastating consequences on a fragile global economy. "As soon as such an issue is raised seriously the oil price would soar to above $250 a barrel," Foreign Ministry spokesman Ramin Mehmanparast said in a newspaper interview.

The comments come as Iran strives to contain international reaction to the storming of the British embassy last week, a move which drew immediate condemnation from around the world and

"No one welcomes the sanctions, we know that sanctions create obstacles, but we want to say we will overcome these obstacles," Mehmanparast told Sharq daily.

"Imposing sanctions on oil and gas is among the sanctions that, if one wants to do that, the consequences should be fully considered before taking any action," Mehmanparast said. "I do not think the situation in the world and especially in the West today is prepared enough to raise such discussions."


/Reuters.com/
URL: http://www.today.az/news/regions/99225.html

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