Iran does not rule out use of oil weapon

Reacting to a recent statement by US President George W Bush that if the current standoff concerning Irans nuclear programme continues, the military option was still on the table for Washington, OPEC Governor Kazempour Ardebili has said that Iran can also say it will not put aside oil as a tool.

By Iaonnis Solomou

Nicosia, July 1 : Reacting to a recent statement by US President George W Bush that if the current standoff concerning Iran's nuclear programme continues, the military option was still on the table for Washington, OPEC Governor Kazempour Ardebili has said that Iran can also say it will not put aside oil as a tool.

The statement that Iran does not rule out the use of the oil weapon comes after repeated declarations that Tehran does not intend to disrupt oil supplies as a weapon in the impasse over Iran's nuclear ambitions.

Apparently, the Iranian government wants to give the message that although it will not on its own initiative stop oil exports, if the US uses military force against it, Iran will not refrain from using the oil weapon. Such a move will send oil prices soaring, as the oil market will be deprived from 2.5 million barrels of oil a day.

Kazempour Ardebili dismissed claims that Iran would be harmed by a possible halt of gasoline exports, saying that such a move would not be successful. The main producers of gasoline, he has pointed out, are members of OPEC who will not refuse to supply a fellow oil producer with the gasoline it needs.

ANI