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Ahmadinejad: EU oil embargo strongest sanctions ever applied

(FILES)-A May 24, 2011, file photo shows Iranian President Mahmoud Ahmadinejad (C) gesturing as he tours the Abadan oil refinery during the inauguration of a petrol making unit in the southwestern city of Abadan. (AFP PHOTO/ISNA/AMIR POURMAND)

TEHRAN: Iran’s President Mahmoud Ahmadinejad said Tuesday the latest EU sanctions on the sale of Iranian oil are “the strongest” measures yet imposed on the country.

The embargo, which comes on top of a fresh round of U.S. sanctions targeting Iran’s vital oil sector, is the latest move in the West’s standoff with Iran over its disputed nuclear program.

In his first comments since the EU ban on the purchase of Iranian oil took effect Sunday, Ahmadinejad said “the sanctions imposed on our country are the strongest ones that have ever been applied against a country.”

“Our enemies assume that they are able to corner Iran into a weak position with these sanctions,” he said, according to state TV.

But he added that Iran should view the EU ban “as an opportunity to wean the country’s budget off its dependence on oil revenues,” saying that would “remove the weapon of oil from the enemy’s hand forever.”

Iran is the second largest OPEC oil producer, producing some 4 million barrels of oil a day. It relies on oil exports for 80 percent of its foreign revenues. However, a large portion of Iran’s crude production is used domestically.

The EU embargo, combined with the fresh U.S. measures that prohibit the world’s banks from completing oil transactions with Iranian banks, significantly ratchet up the pressure on an Iranian economy already squeezed by previous rounds of sanctions.

There are signs that the measures are taking a toll on Iran’s already shaky economy. This week, Vice President Mohammad Reza Rahimi said authorities had stockpiled imported goods and hard currency to help cushion the blow to the economy.

The U.S. and EU imposed the sanctions to pressure Iran over its nuclear program, which Washington and its allies suspect is aimed at developing atomic weapons. Iran denies the allegations and says its program is solely for peaceful purposes.

Iran’s Foreign Ministry spokesman said the sanctions would not affect Iran’s nuclear activities, but they might damage nuclear talks between Iran and the West.

“As long as they wrongly imagine that imposing illegal and illegitimate sanctions would make us back off on our rights and they can talk down to us in negotiations, such an attitude will definitely have a negative impact on the success of the talks,” he said.

 
A version of this article appeared in the print edition of The Daily Star on July 04, 2012, on page 9.

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