Oil sanctions on Iran will rock global economy: Iran minister. Iranian Oil Minister Rostam Qasemi says if the Western sanctions against the Islamic Republic’s oil sector are not lifted, world energy markets will face “serious challenges.”
“The mere announcement of the sanctions against Iran’s oil industry has led to an 18-percent hike in the oil prices in the global markets,” Qasemi said on Thursday. The senior Iranian oil official said despite the sanctions, the country has inked “new contracts with new customers.” “Iran has no problem in exporting its oil,” he added. Last month, the International Monetary Fund (IMF) warned that if Iranian oil supplies are disrupted, crude prices may spike by up to 30 percent, sending shockwaves through the global economy. "Clearly it would be a shock to economies if there was a major shortage of exports of oil out of Iran [and] it would certainly drive up prices," IMF Director Christine Lagarde said on March 20. Iran has already cut oil exports to France and Britain as part of its countersanctions. Israel warns time is running out before it launches strike on Iran - Middle East - World. The tough public stance from Tel Aviv comes amid conflicting reports on the readiness of the Israeli military establishment to carry out an attack on Iran.
One account claims that Israel's security agencies have concluded that the turmoil predicted from a strike, and the likely response from Tehran, has been widely exaggerated. However, a senior British official told The Independent that the hierarchy of the intelligence service, Mossad, and the armed forces continued to have deep trepidation about conflict in the region. Speaking at the Davos economic summit yesterday, the Israeli Defence Minister, Ehud Barak, yesterday warned that a situation could be rapidly reached when even "surgical" military action could not block the Tehran regime from getting the bomb.
"We will know early enough whether the Iranians are ready to give up their nuclear weapons," following measures such as the recently announced EU oil embargo, he said. Iran unveils new laser-guided missiles and warns response to any hostile action will be 'regretful but destructive' Iran claims its missiles can hit moving targets with a 'high degree of precision' By Emily Allen Updated: 08:54 GMT, 31 January 2012 Iran has issued a stark warning to the West vowing that response to any hostile action will be 'regretful but destructive'.
As tensions over its disputed nuclear programme continue to rise General Masoud Jazayeri, spokesman for Iran's Joint Armed Forces Staff, said: 'We will rigorously confront any threat or hostile behaviour, and our response will be definitely regretful and destructive. 'We hope this (kind of behaviour) would not take place, but if it happens then the history will remember whether the Americans or the Iranians were bluffing.' The General's words came as Iran claimed it had produced 'intelligent' laser-guided artillery shells which can spot and hit moving targets with very high degrees of precision. 'Besides America and Russia, there are only three other countries which have this technology,' he said. Nuclear experts in Iran on day of oil embargo vote. West installed Israel to control Mideast' 'West installed Israel to control Mideast' Iran's President Mahmoud Ahmadinejad Iran's President Mahmoud Ahmadinejad says the hegemonic powers of the world installed the Israeli regime in the Middle East in a “historical scheme” to gain control over the region.
“Why did they install the Zionist regime (Israel)? To gain control over oil, as well as the popular and revolutionary uprisings in the Middle East,” said President Ahmadinejad in his opening speech at the Islamic Awakening and Youth conference in Iran's capital city, Tehran, on Sunday. “It is clear that this was a historical scheme,” the Iranian president added. Ahmadinejad warned the regional countries against the West's plots to sow discord in the Middle East in order to save Israel. The Iranian president added that the West intends to cause religious and ethnic rifts in a certain country by using other regional states.
Iran hits back at EU with own oil embargo threat. Iran threatens to shut down oil flow in the event of sanctions. Iran threatens to stop Gulf oil if sanctions widened. India Buying Oil With Gold!!!