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News number: 8805251465

19:36 | 2009-08-16

Economy

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Minister Dismisses Sanction on Iran's Fuel Supplies as Inefficient

TEHRAN (FNA)- Iranian Oil Minister Gholam Hossein Nozari on Sunday dismissed sanctions on gasoline exports to Iran as "inefficient", reminding that the country can meet its consumption needs relying on its giant oil and gas reserves.



"Iran possesses one of the greatest oil reserves in the world, therefore no country can impose sanctions on Iran's gasoline," Nozari said.

The comments by Nozari came after the US Senate, in an attempt to intensify pressure on Tehran over its nuclear program, ratified a plan calling for sanctions against the companies that provide Iran with gasoline and oil products.

Meantime, the Iranian oil minister underlined that Tehran has adopted "all the necessary measures for supplying its gasoline needs", adding, "There are no concerns for supplying the country's gasoline needs."

Earlier this month, Managing Director of the National Iranian Oil Company (NIOC) Seyfollah Jashnsaz told FNA that Tehran has worked out different options to defuse a fresh move by the US to sanction gasoline exports to the country.

"The US plan to sanction supply of gasoline (to Iran) is a failed plan for Tehran does not feel any concern for supplying its needed gasoline and all of the reservoirs are full of gasoline," Jashnsaz said.

"In the event the sanction bill against the companies that provide Iran with gasoline and oil products is approved, Iran will have no concerns for supplying its needed gasoline," Jashnsaz reiterated.

Jashnsaz reiterated that Iran's perceived methods for supplying its needed gasoline are fully-operational, and underscored that the move would yield no fruit for the US.

He stated that Iran can find other suppliers for its needed gasoline if current suppliers surrender to US pressures.