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EU embargo on Iranian oil, "economic suicide" for Europe: official

(Xinhua)

10:34, January 18, 2012

TEHRAN, Jan. 17 (Xinhua) -- Iran's OPEC Governor Mohammad-Ali Khatibi said Tuesday that the potential European Union (EU) embargo on Iranian oil is "economic suicide" for Europe, the local satellite Press TV reported.

"Performing the scenario of banning Iranian oil export to the European Union member states is undoubtedly an economic suicide for the countries in this region," Khatibi was quoted as saying.

"The U.S. and some European countries should avoid adventurism in the world's oil market," he said.

EU countries such as Greece, Italy and Spain, which respectively import about 25 percent, 13 percent and 10 percent of their oil from Iran.

On Tuesday, Iran's Foreign Ministry spokesman Ramin Mehmanparast said that European countries are not prepared to impose sanctions on Iran's oil. They have even announced plans to impose sanctions for merely three months or postpone the effort for another year, he said.

The Iranian spokesperson said that the public in the European countries expect their officials to adopt policies independent of the United States and in favor of their own national interests, said the report.

The issues regarding the enforcement of sanctions against Iran' s oil sector are intended to wage a psychological warfare on the Islamic republic, said Mehmanparast.

Following a report issued by the International Atomic Energy Agency on Iran's nuclear program in November 2011, the United States, Britain and Canada announced new sanctions against Tehran and are still working to impose an embargo on Iran's crude exports.

Western countries suspect that Iran's nuclear program might have military dimensions, but Tehran rejects the claims and insists that its nuclear program is for peaceful purposes.

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