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Iran able to offset oil embargo

Service : Politic
Tehran, Jan 17, (ICANA) – Member of the Majlis Economic Commission Gholamreza Mesbahi-Moghaddam says that Iran is not worried about the impacts of the proposed oil embargo and the Iranian government is capable of neutralizing the sanctions.
Tuesday, January 17, 2012 2:47:07 PM
Iran able to offset oil embargo

In an interview with ICANA on Tuesday, Mesbahi-Moghaddam said, "Historical experience proves that if the oil embargo is implemented, Iran can offset the impacts of the economic sanctions through various methods."

He further noted that the proposed oil sanction is expected to strengthen Iran's petrochemical capacities.

"The proposed oil embargo by the European Union is faced with huge disagreements by the members of the body, especially Italy which imports more than 13 percent of its oil from Iran," he added.

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