Oil Minister: Iran Oil Embargo Detrimental To World Economy

Vienna, June 14, IRNA - Oil Minister Rostam Qasemi said on Wednesday imposition of oil embargo against Iran as the world's second largest oil producer would destibalize oil markets and is detrimental to world economy. Qasemi made the remarks in speech at meeting of Organization of Petrolium Exporting Countries in Vienna. Qasemi said using oil as a pressure lever or military interference in the energy producing countries would increase oil prices and fluctuate its market. OPEC meeting aims to review oil market effects on world economy and vise versa. The oil minister said world economy needs a sustainable energy supply to get stability. Saying "No one should use oil as a means to put pressure on other countries," Qasemi said some energy consumers regretfully misuses the situation and imposes sanctions on oil producing countries. He said observing international laws, eliminating political tension in the field of oil, stopping oil embargoes and regulating oil deals at oil stock exchanges would stabilize oil markets and improve world economy./end