Imposition of sanctions on oil-rich Iran is ridiculous: Ahmadinejad

TEHRAN,Aug.1(MNA) - Iranian President Mahmoud Ahmadinejad said on Tuesday that it is “presumptuous” of the West to impose oil sanctions on oil producing Iran and described the sanctions as “ridiculous”. “Today we see that they (the Westerners) impose oil sanctions on an oil producer in the world, and this is ridiculous and presumptuous,” Ahmadinejad stated during a ceremony marking the inauguration of an oil refinery in the capital Tehran. Washington has prohibited U.S. companies from trading in all Iranian oil products for years, while the European Union banned its companies from importing crude and refined products from July 1. Ahmadinejad went on to say that current mechanisms regarding oil trade, which have been established by the imperialist powers, operate in such a way that they themselves are making the most profit. And the determination of global oil prices is politically motivated, the Iranian president added. Oil is being used as a “political tool” against oil producers, he said, adding that Iran should stop exporting crude oil and try to sell refined oil products instead. “We must move in a direction that we do not export crude oil,” Ahmadinejad commented. And all oil revenues should be distributed throughout the nation, he added. Elsewhere in his remarks, Ahmadinejad said that the “inappropriate” approach that certain countries have adopted toward Iran’s industrial sector has its roots in the achievements that the Islamic Republic has made in various areas. “For instance, they are angry at the advances we have made in peaceful nuclear technology, and the reason for their anger is that we have acquired the capability and the know-how to enrich uranium. Otherwise, the possession of tons of 3 percent enriched uranium creates problems for no one,” he stated.