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Iranian Oil Minister Dismisses Sanctions as Futile Move

Fars News Agency -- Iranian Oil Minister Rostam Qassemi played down the US-led western sanctions against Iran's oil exports, warning that an energy-hungry world can not do without Iranian energy supplies.

Speaking to reporters on the sidelines of an OPEC ministers meeting, Qassemi warned the US and Europe that their tactics will backfire.

"The use of instruments such as sanctions or direct military interventions in energy-producing countries will increase the price of oil and market volatility," he told an OPEC seminar on Wednesday.

On Thursday, he denied that Iran was hurting.

"Our exports remain as before," he declared, adding that the oil embargo will "not have any negative impact on Iran."

Stressing that Iran has the most combined oil and gas reserves in the world, he suggested his country held

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Submitted Jun 17, 2012 By: carrek

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car253 Champion Author Ohio Posts:6,298 Points:1,469,595 Joined:Oct 2008	Message Posted: Jun 18, 2012 7:20:26 AM Ignore car253 Report Abuse He is right.
gandalfthegrey1 Champion Author Houston Posts:1,184 Points:384,785 Joined:Feb 2011	Message Posted: Jun 18, 2012 5:41:26 AM Ignore gandalfthegrey1 Report Abuse This is just another way of saying, 'We're going to build that bomb if it hairlips Hitler.' And they will.
Nancy&Len Champion Author Cleveland Posts:2,058 Points:1,946,790 Joined:Sep 2004	Message Posted: Jun 18, 2012 5:38:25 AM Ignore Nancy&Len Report Abuse In his dreams.
Luckylindy Champion Author Milwaukee Posts:4,519 Points:1,128,045 Joined:May 2008	Message Posted: Jun 18, 2012 4:30:15 AM Ignore Luckylindy Report Abuse Especially since they are still selling oil.
bisonjim Champion Author Florida Posts:1,060 Points:207,205 Joined:May 2012	Message Posted: Jun 18, 2012 4:13:14 AM Ignore bisonjim Report Abuse Not a surprise
djgunrunner Champion Author Salt Lake City Posts:10,104 Points:2,349,580 Joined:Apr 2005	Message Posted: Jun 18, 2012 3:38:52 AM Ignore djgunrunner Report Abuse He is probably right. If they drop the price low enough you know their will be buyers. China will be a buyer anyway. America getting hurt on the dollar falls right into Chinas play book. Iran is and has been doing exactly what they planned. They stalled us from doing anything while selling their oil and building their bombs. The caused the prices of crude to jump over $100.00 a barrel when it is only worth $50.00. It made the speculators very happy and hurt a great part of the free world starting with America and we were not even buying oil from them. In the mean time they had the money to continue enriching their Uranium for the bombs they are not making and are laughing at us the whole time. If they could vote they would be voting for obama just to keep everything in America screwed up.
MN1 Champion Author Twin Cities Posts:3,364 Points:651,565 Joined:Jun 2011	Message Posted: Jun 18, 2012 12:20:56 AM Ignore MN1 Report Abuse I'd expect no less.
anascom Champion Author Hamilton Posts:1,593 Points:553,115 Joined:Feb 2011	Message Posted: Jun 18, 2012 12:13:05 AM Ignore anascom Report Abuse hmmm !!!
rickone All-Star Author Detroit Posts:545 Points:393,435 Joined:May 2004	Message Posted: Jun 17, 2012 11:19:19 PM Ignore rickone Report Abuse Interesting - Thanks for posting.
JohnofGB Champion Author Flint Posts:5,426 Points:1,097,170 Joined:Feb 2010	Message Posted: Jun 17, 2012 11:09:20 PM Ignore JohnofGB Report Abuse Did the oil minister clear this with the ruling imams???
1momsunshine Champion Author Ottawa Posts:5,495 Points:1,001,555 Joined:Mar 2010	Message Posted: Jun 17, 2012 11:08:29 PM Ignore 1momsunshine Report Abuse ok
davenles Champion Author Texas Posts:3,201 Points:719,635 Joined:May 2011	Message Posted: Jun 17, 2012 9:50:31 PM Ignore davenles Report Abuse To many exemptions and hold out countries to be effective.
buckets42 Champion Author New Jersey Posts:1,690 Points:329,550 Joined:Oct 2011	Message Posted: Jun 17, 2012 9:46:11 PM Ignore buckets42 Report Abuse Does he really have any other choice about what to say?
bandannaman Champion Author New Jersey Posts:1,849 Points:365,610 Joined:Dec 2010	Message Posted: Jun 17, 2012 9:26:08 PM Ignore bandannaman Report Abuse If you say something enough times, I guess you start believing it.
graceman Champion Author Baltimore Posts:4,968 Points:1,158,725 Joined:Jun 2008	Message Posted: Jun 17, 2012 8:33:44 PM Ignore graceman Report Abuse All a lot of talk!
kag2010 Champion Author Winnipeg Posts:5,264 Points:1,020,960 Joined:Apr 2010	Message Posted: Jun 17, 2012 7:58:15 PM Ignore kag2010 Report Abuse Stressing that Iran has the most combined oil and gas reserves in the world, he suggested his country held a study on it....
pumaMN Champion Author Minnesota Posts:1,553 Points:337,765 Joined:Aug 2011	Message Posted: Jun 17, 2012 7:29:00 PM Ignore pumaMN Report Abuse ok
WildmanMick Veteran Author North Carolina Posts:426 Points:316,540 Joined:May 2011	Message Posted: Jun 17, 2012 7:16:06 PM Ignore WildmanMick Report Abuse "Our exports remain as before," he declared, adding that the oil embargo will "not have any negative impact on Iran." - I wonder who is he trying to convince?
humblepie Champion Author Toledo Posts:34,265 Points:2,372,345 Joined:Mar 2006	Message Posted: Jun 17, 2012 7:15:15 PM Ignore humblepie Report Abuse china for one could care less about any u s sanctions they just thumb their noses at everything obama does as do most of the rest of world leaders
mastermariner Champion Author Texas Posts:4,249 Points:494,800 Joined:Jun 2011	Message Posted: Jun 17, 2012 7:14:32 PM Ignore mastermariner Report Abuse Sanctions do not work, look at Cuba and South Africa when they were in effect.
Metrolizer Champion Author Fort Worth Posts:2,015 Points:2,209,330 Joined:Feb 2005	Message Posted: Jun 17, 2012 7:05:53 PM Ignore Metrolizer Report Abuse State-sponsored Iranian lies. But the part about the sanctions being costly for the United States and our allies is true.
carrek Sophomore Author Seattle Posts:230 Points:190,350 Joined:Aug 2005	Message Posted: Jun 17, 2012 7:04:03 PM Ignore carrek Report Abuse I wonder about his comments. Another article says that their exports of oil are down 40% and the full sactions don't happen until July 1. http://www.steelguru.com/middle_east_news/Iran_oil_exports_plummet_as_sanctions_bite/269020.html