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Abolfazl Aboutorabi:

Sanctions help Iran replace crude sales with petrochemical exports

Service : Politic
Tehran, July 15, (ICANA) – Member of the parliament's Judicial and Legal Commission Abolfazl Aboutorabi underlined the dire impacts of the West's oil sanctions on European economy, and said Iran is moving towards a stop in crude sales and its replacement with petrochemical exports.
Monday, July 16, 2012 3:19:00 PM
Sanctions help Iran replace crude sales with petrochemical exports

"We should move towards a direction that, through national management and determination, even one drop of oil will not be exported and we should turn these resources into oil products with higher value-added," Aboutorabi said on Sunday.

He also underlined the necessity for increased employment of Iranian experts to help use a growing volume of the country's oil resources and installations for producing oil products, which will eventually lead to the country's development.

Aboutorabi downplayed the effects of sanctions against Iran, and said, "Certainly, Europe will sustain more losses due to these sanctions and the (resultant) hike in oil prices will break the backbone of Europe's economy."

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