Iran warns neighbours against boosting oil output
US efforts to get European, Asian markets to boycott Tehran making progress, experts say
Dubai Iran warned its Gulf neighbours yesterday against boosting oil production to offset any potential drop in Tehran’s crude exports in the event of an embargo affecting its oil sales, the latest salvo in the dispute between the West and the Islamic Re- public over its nuclear programme.
Tehran’s recent threat is a sign that the Us-led efforts to get European and Asian markets to boycott Iranian oil are making progress, experts say. “These acts will not be considered friendly,” Mohammad Ali Khateebi, Iran’s Opec governor said yesterday adding that if Arab producers “apply prudence and announce that they will not participate in replacing oil, then adventurist countries will not show interest,” in the embargo.
Both Japan and South Korea have announced they will take concrete action to cut their Iranian oil imports. China is studying other options, experts noted.
Saudi Arabia has ex- pressed readiness to f ill market needs as i t did when there was a drop in oil exports during the Libyan revolution. Iran has warned that it could shut the vital Strait of Hormuz over sanctions affecting its oil exports, but most analysts say Iran realises the move would come with serious consequences.
London ( Reuters) Brit ish Foreign Secretary William Hague yesterday said he was conf ident the European Union would impose far-reaching sanctions on Iran’s oil industry and possibly other sectors at an EU meeting next week.
He also said he hoped the 27-member European bloc could agree on further sanctions against Syria within the next 10 days over its military crackdown on protesters but gave no details.
EU states have agreed in principle to ban imports of Iranian oil over Tehran’s nuclear programme. They are working on details of how the ban will be implemented before a January 23 foreign ministers’ meeting.
Military conflict
Iran has threatened to stop the flow of oil through the Strait of Hormuz if foreign sanctions are imposed on its crude exports, a move that could trigger military conflict with economies dependent on Gulf oil.
“We must not be put off further sanctions by bluster or statements f rom Iran. This is an increasingly dangerous situation that Iran is developing a military nuclear programme,” he said. Iran denies seeking nuclear weapons.
“I am confident we will adopt very significant additional measures against Iran at the European Foreign Affairs Council a week tomorrow, on the 23rd, covering the oil sector and possibly other sectors as well,” he said.
We must not be put off further sanctions by bluster or statements from Iran. This is an increasingly dangerous situation that Iran is developing a military nuclear programme.”
William Hague British foreign secretary
Britain is one of six world powers that has been dealing with Iran over its nuclear programme. The West suspects Iran seeks to develop nuclear weapon capability under the guise of its declared civilian atomic energy programme.
Hague said that if Iran continued on its “dangerous course” it would lead to nuclear proliferation across the Middle East that would be extremely dangerous for the people of Iran, for the region and for the peace of the world.
“Our sanctions are part of trying to get Iran to change course and to enter negotiations and we should not be deterred from implementing those. We will continue to intensify our own sanctions and those of the European Union.”