Reuters: Iran will not cut its oil exports in a dispute with the West over its nuclear programme, Iranian Oil Minister Kazem Vaziri told Reuters on Saturday. DOHA (Reuters) – Iran will not cut its oil exports in a dispute with the West over its nuclear programme, Iranian Oil Minister Kazem Vaziri told Reuters on Saturday.
Oil prices have risen to record highs over $75 a barrel on concern shipments from Iran, the world’s fourth biggest oil exporter, may be held back in the dispute.
“We strongly believe there is no reason for sanctions but in any case we will not cut our oil exports,” the minister said.
The United Nations Security Council may consider sanctions against Tehran after studying a report due on April 28 from the International Atomic Agency on whether Iran is meeting its demands for a halt to uranium enrichment.
“During the eight year war imposed on us by Iraq we never stopped exporting,” the minister added.
He was asked to respond to speculation Iran could redirect exports to certain customers that were sympathetic to its cause. Iran ships most of its crude to the Far East while the majority of supplies to Europe goes to France, Italy, Spain, Greece and Turkey.
“We will continue to meet our obligations to all of our customers,” Vaziri said.
(Reporting by Peg Mackey, Doha newsroom)