Iran will win economic war with West: Oil minister


Iranian Oil Minister Rostam Qasemi says the country will definitely be the winner of the economic war waged against Iran by Western countries

“Despite sanctions [against Iran], the development of the oil industry has not been stopped and there is no lack of goods and equipment [in the country],” said Qasemi on Friday.

He added that the development plan for 19 phases of the South Pars gas field has been granted to Iranian contractors and producers which will replace Royal Dutch Shell and France’s Total in the field.

“The European Union (EU) set a deadline for imposing sanctions on Iranian oil and ultimately these sanctions led to a sudden increase in the price of black gold in world markets,”Qasemi said.

The Iranian minister urged Westerners to learn from this price increase and behave logically.

“Iran without a doubt will be the winner of the economic war with the West,” he added.

Foreign ministers of the EU member states met in Brussels on January 23 and approved new sanctions against Iran which forbid member countries from importing Iranian crude and doing business with the Central Bank of Iran (CBI).

The EU sanctions against the Iranian oil sector will take effect on July 1. Tehran has already cut oil exports to several European countries as part of its countersanctions in response to the EU measure.

The Western bloc says the sanctions are aimed at crippling Iran’s economy and thus pile up pressure on Iran to abandon its nuclear energy program. However, Tehran says such acts have already backfired and led to higher prices in the global oil market.


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