West Cannot Impose Sanctions on Iran

 

Tehran, Jan. 06, 2010 (Hamsayeh.Net) - Top Iranian official says some western countries seek to prevent investments in the Iranian oil sector. Head of Iran’s Expediency Council Ayatollah Ali Akbar Hashemi Rafsanjani told a gathering of students in Tehran that certain western countries make their outmost efforts to block Iran’s access to international investments, as reported by Fars News Agency on Tuesday.

 

The Ayatollah explained the reason behind this policy as to reduce the country’s oil revenue, which would in turn pressure Tehran to halt its progress in the field of nuclear technology. Rafsanjani said despite western threats of economic sanctions, it’s not possible to impose embargoes on Iran since it would cause a dramatic jump in oil prices, something the global economy can’t possibly afford.

 

‘If they choose to boycott Iran's oil sales…the move would double the oil prices and of course the world economy cannot bear such a measure,’ Rafsanjani said and added that developing countries should take advantage of their energy revenues by boosting developments and greater prosperity to their nations.

 

The United States and its western allies have increased their military presence in the strategic regions around the globe in a bid to hinder other major economies like China, India, Brazil and Russia’s access to lucrative trades and cooperation. But despite such policies other non-western global players have sealed lucrative energy deals with countries in the Middle East, Africa and South America.

 

China, for instance, has signed major oil and gas agreements with Iran, Persian Gulf states as well as Venezuela. Other Asian economies are quickly filling the gap created by western unilateralism. Malaysian company SKS has just forged a 12 billion euros contract with Iran in energy projects including building an LNG plant in partnership with Iranian companies.  

 

A Swiss company Elektrizitaetsgesellschaft Laufenburg, signed a 25-year contract for 5.5 bcm of Iranian natural gas per year.