Iran can stand 2-3 year oil blockade: Ahmadinejad

DUBAI Tue Apr 10, 2012 6:12pm EDT

Iranian President Mahmoud Ahmadinejad looks on as he attends the 25th International Islamic Unity Conference in Tehran February 8, 2012. REUTERS/Morteza Nikoubazl

Iranian President Mahmoud Ahmadinejad looks on as he attends the 25th International Islamic Unity Conference in Tehran February 8, 2012.

Credit: Reuters/Morteza Nikoubazl

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DUBAI (Reuters) - Iran has enough funds to withstand a total embargo on its oil sales for two to three years, Iranian media quoted President Mahmoud Ahmadinejad as saying days before the resumption of talks with world powers on Tehran's nuclear programme.

The European Union is set to impose a total embargo on Iranian crude oil from July following similar measures imposed by the United States to try to force Iran to abandon uranium enrichment.

"We must say to them that we have that much saved that even if we didn't sell oil for two to three years, the country would manage easily," a report on Tuesday from Fars news agency quoted Ahmadinejad as saying during a visit to Hormuzgan province.

The United States and its allies hope the sanctions on Iran's energy and financial sectors will force it to abandon uranium enrichment which they suspect is aimed at developing nuclear weapons. Iran says its goals are entirely peaceful.

Iran is due to resume talks this week with Western countries plus Russia and China on its nuclear programme.

The International Energy Agency recently said that the wide-ranging sanctions against Iran could reduce its oil exports by as much as 1 million barrels per day, or 40 percent, from the middle of the year.

European member states, including Greece, Spain and Italy have been significant customers to Iran and are scrambling to find alternative supplies before the ban is introduced.

Ahmadinejad accused Western countries of being solely interested in plunder, Fars reported.

"Whoever wishes to abuse Iran's rights, the young people of Hormuzgan will punch them in the mouth to the extent that they won't be able to find their way home," he said.

(Reporting by Marcus George; Editing by Matthew Tostevin)

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Comments (12)
savannahmike wrote:
WTFever not holding my breath.

Apr 10, 2012 10:31am EDT  --  Report as abuse
ginta5150 wrote:
I honestly hope that they can. All Europe has to do is stop the sanctions against Iran and they’d be back on track for recovery. Their are no nukes. It’s been proven. So why are the sanctions still in place?

Apr 10, 2012 10:39am EDT  --  Report as abuse
mikaj wrote:
Good luck with your peaceful nuclear energy, Iran. It will drastically help your economy once you get a few nuclear reactors up and running. All have a right to green energy. Don’t worry what these haters say, they’re just jealous they depend on oil for their economy and when less buy it, the price goes up.

Apr 10, 2012 10:50am EDT  --  Report as abuse
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