Today.Az » World news » 'Iran oil embargo to hurt EU'
06 April 2012 [15:08] - Today.Az
A senior Russian lawmaker warns against the adverse consequences of soaring oil prices in global markets, saying sanctions on Iran's oil industry will harm the European Union (EU) the most.
“Higher oil prices will seriously affect EU member states,” Deputy Chairman of the State Duma Committee for Energy Yury Lipatov told IRNA on Thursday.
Many European countries are suffering a deep economic and financial crisis, he said, adding that an increase in oil prices as a result of Iran embargo would certainly exacerbate their problems.
Tensions with Iran aimed at isolating the country is the main reason behind higher oil prices in international markets, Lipatov pointed out.
He called on countries to refrain from politicizing issues pertaining to economy and energy to avert its repercussions.
Oil prices have shot up in recent months in the wake of Iran’s decision to halt its crude sales to certain European countries in response to the EU oil embargo on Tehran.
/PressTV/
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