Iran: Oil is our weapon
25/06/2006 12:00  - (SA)  

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Iran 'questions' nuke package Iran still enriching uranium US nuke technology for Iran? US: Iran a top terrorist nation Iran threatens world with oil

Tehran - Iran's oil minister has warned that the country would use oil as a weapon if its interests are attacked, state television reported on Sunday.

"If the country's interests are attacked, we will use all our capabilities and oil is one of them," Kazem Vaziri-Hamaneh said on Saturday, the television reported.

Iran is currently locked in a standoff with the international community over its nuclear program, facing the threat of sanctions if it does not accept a US-backed offer and halt sensitive nuclear work.

Vaziri-Hamaneh warned about impact any sanctions on Iran would have in the oil market, saying the price of crude, currently about $70 a barrel, risked going up to $100.

"The world needs energy and understands the affect of oil sanctions against Iran on the market and no-one will make such an unreasonable decision," he added.

The West fears Iran, which is Opec's number two oil exporter, is secretly trying to build nuclear weapons, a charge denied by Tehran which insists its atomic program is purely for electricity-generation.

- AFP

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