Anti-Iran Sanctions Increase World Economy Expenses : Minister

Tehran, Nov 14, IRNA – Minister of Economic Affairs and Finance Shamseddin Hosseini said Wednesday that sanctions against Iran have increased expenses of the global economy creating instability in the oil markets. Hosseini made the remarks wile talking to reporters on the sidelines of the fourth day of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) meeting underway in the Iranian capital. Hosseini reiterated that anti-Iran sanctions have made a critical situation for the world industrial countries. As to the Majlis plan on reduction in the oil exports, the minister said it will cause more instability in the global markets. On Iran's economic potentials, the minister said the Islamic Republic has a large economy with various capacities. Criticizing western sanctions on Iran, he said the world is currently in need of international cooperation./end