Tuesday, 17 January 2012By Ummugulsum Boz, JTW
Iran has warned Gulf Arab oil producers against boosting their oil production. Also, Iran says that they will be responsible for the consequences if they do so.
The U.S. and European Union member states have accepted imposing sanctions on Iranian crude oil exports. Leaders from various nations are travelling to the region to seek extra supplies to balance any shortfalls.
Since Iran gains a considerable amount of its revenues from oil exports, as a response Iran has warned of retaliation against any increase in Gulf countries’ oil production. According to Sharq Daily, Mohammad Ali Khatibi, Iran’s representative to OPEC, said “our Arab neighbor countries should not co-operate” with the U.S. and European countries. Also, Iran has threatened the U.S. by stating that the Hormuz Strait will be blocked to the entrance of other countries’ ships.
Asian nations are amongst the biggest importers of Iranian oil, along with China, India, Japan and South Korea. Thus, U.S. officials want to support these countries in reducing Iranian crude oil exports. |
Tuesday, 17 January 2012
Ummugulsum Boz, JTW
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