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News number: 8805141105

14:55 | 2009-08-05

Economy

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Analyst: Iran Enjoys Necessary Potential for Defusing Gasoline Sanction

TEHRAN (FNA)- Any possible sanction by the US on the exports of gasoline to Iran will not affect the will of the Islamic Republic as Iran enjoys the necessary potential for defusing the plot, an Iranian analyst said on Wednesday.



"Iran enjoys the potential for deterring the gasoline sanction by the US and the US is pursuing the plan with a political goal," former member of the parliament's National Security and Foreign Policy Commission Reza TalayeeNik told FNA.

Noting that 30-year-long sanctions against Iran have made the country accelerate its self-sufficiency plans, Talayee Nik reiterated Iran will open its way towards self-sufficiency in the production and supply of gasoline.

The MP further argued that the fresh US sanctions on Iran's gasoline supplies would most likely prove futile.

"While there is a possibility that sanctions on the gasoline exports (to Iran) do not materialize at the international level, Iran enjoys the potentials to foil this new plot as the country is dependent on imports for only 30% of its needed gasoline supplies," he said.

"More than two-thirds of the country's gasoline needs is supplied by the Iranian refineries and this fact will limit the effects of sanctions," the analyst added.

The US Senate in an attempt to force Tehran to halt its enrichment program, voted to put pressure on companies selling gasoline to Iran.

A bill approved on Thursday by the Senate says companies that continue to sell gasoline and other refined oil products to Iran will be banned from receiving Energy Department contracts to deliver crude to the US Strategic Petroleum Reserve.

The measure must now be reconciled with a similar bill passed by the House of Representatives.

In June, a committee in the US House of Representatives voted to target Iran's gasoline imports and its domestic energy sector. Iran imports some 40 percent of its gasoline needs.

The House Appropriations Committee approved by voice vote a measure prohibiting the US Export-Import Bank from helping companies that export gasoline to Iran or support its production at home.

The measure is aimed at pressuring Iran into relinquishing its nuclear program, which the US and the West allege has military purposes.

Tehran, a signatory to the nuclear Non-Proliferation Treaty, has repeatedly rejected the claim, saying that nuclear weapons do not fit in its defense paradigm.