Iran threatens to use oil as a “weapon” in nuclear row

Iran Focus: Tehran, Iran, Jun. 25 – Iran’s Oil Minister issued a stark warning on Sunday that Tehran was prepared to use oil as a “weapon” in its dispute with the West over its nuclear program. Iran Focus

Tehran, Iran, Jun. 25 – Iran’s Oil Minister issued a stark warning on Sunday that Tehran was prepared to use oil as a “weapon” in its dispute with the West over its nuclear program.

“If the interests of the country come under attack, we will use all our resources and oil is one such option”, Oil Minister Kazem Vaziri-Hamaneh told state television.

“The world is in need of energy”, Vaziri-Hamaneh said, adding that the world’s markets would suffer if sanctions were imposed on Iran.

He said that using the oil “weapon” would be “advantageous” to Iran if it faced threats.

He added that it would not be an easy task for the world to compensate for a cut of Iranian oil from the international market.

“If Iran is put under an oil embargo, which is unwise and impossible, the price of oil will reach more than $100”, he said.