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Iran denies oil export halt if sanctions continue

Iranian-Oil-Minister-Masoud-Mirkazemi

Iran’s envoy to the Organization of the Petroleum Exporting Countries denies media reports that Tehran will stop crude oil exports if sanctions continue against the Islamic Republic.

According to Mohammad Ali Khatibi, some western media quoted recently “by mistake” the Iranian Oil Minister as saying that Iran would halt oil exports if the sanctions continue to be enforced against the country.

“The Iranian Oil Minister denied this news when I asked him about it,” Khatibi told IRIB News on Saturday.

Iranian Oil Minister Masoud Mirkazemi said earlier on Wednesday that any cut in Iran’s supply of crude will, undoubtedly, cause oil prices to surge as the country is one of the world’s major oil producers.

The comments came as major powers threaten Tehran with further sanctions, including a fuel embargo, over its nuclear activities.

Some Western websites, news agencies and newspapers including The Wall Street Journal misreported Iran’s oil minister’s comments, saying that he has warned world powers that Iran may stop exporting crude oil if economic sanctions continue to be imposed on the Islamic Republic.

Iran’s crude oil production is now about 4 million bpd, two-thirds of which is for export.

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