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IRI gave strong response to petrol sanction

IRI Oil Minister Sayyed Masoud Mir-Kazemi said the Islamic Republic of Iran has given a strong response to a US engineered petrol sanction against Iran.

Mir-Kazemi in a press conference on Tuesday pointed to IRI’s recent investments in oil industry and said the ministry has used its capacities to foil the petrol sanction.

“We succeeded to produce petrol from petrochemical complexes in one week in November 2009 to make necessary assurances for enforcement of the project,” the Oil Minister said.

Mir-Kazemi also pointed to a decrease in petrol prices in the region after Iran’s self-sufficiency in petrol production, adding the petrol reserves in the country were full and the petrochemical complexes were allowed to choose whether to produce more petrol.

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