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News number: 9107126293

18:17 | 2012-12-11

Economy

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Official: US Seeks to Drive Out Economic Rivals by Oil Sanctions against Iran

TEHRAN (FNA)- A senior Iranian foreign ministry official blasted the US for imposing unilateral oil sanctions against Tehran, and said Washington aims to drive its economic rivals out of the scene by such embargos.



"Iran enjoys the second largest gas reserves and the fourth largest oil reserves and the world's biggest energy reserves (altogether), and in the long-run countries should move towards those states that have large reserves to meet their energy needs," Foreign Ministry Spokesman Ramin Mehman-Parast said in a meeting with a media delegation from Moldavia in Tehran on Tuesday.

"The US wants to get rid of its economic rivals through oil sanctions against Iran," he added.

After the UN Security Council ratified a sanctions resolution against Iran on June 9, 2010, the United States and the European Union imposed further unilateral sanctions against the Islamic Republic over its nuclear program, mostly targeting the country's energy and banking sectors.

Tehran has always dismissed West's pressures and stressed that sanctions and embargos merely consolidate Iranians' national resolve to continue the path of progress and will harm the economies of the supporters of sanctions.

The EU measure was ratified at a ministerial meeting in January, but the 27-member bloc deferred its implementation until July 1.

Meantime, Analysts believe that the EU started implementation of the sanctions against Iran at a time when it is experiencing its worst economic conditions.