Tuesday, January 24, 2012

Iran: Illogical decisions to bear bitter fruits for EU - Iran

Source: IRNA

Tehran, Jan 24, IRNA – Islamic Republic of Iran Ministry of Foreign Affairs issued a communiqué here Monday condemning European Union’s imposed sanctions on Iranian oil, stressing that such moves would bear bitter fruits of EU.

The EU Foreign Ministers Council in their Monday session in continuation of their antagonist policies against the Islamic system, have once again adopted illogical and unjustifiable decisions against Iran.

According to the IRNA Monday Night News Team, the information website of the Islamic Republic of Iran Ministry of Foreign Affairs while condemning the undiplomatic move and once again emphasizing over its responsible policies on regulating relations with world countries based on international rights and regulations and mutual respect, has noted that such decisions would bear bitter fruits not only for the European nations, but also for the others.

In continuation of the communiqué we read, “The Islamic Republic of Iran has many times stressed on the peaceful nature of its nuclear program, sparing no effort aimed at making more transparent its nuclear program.

It seems as if the EU in continuation of its illogical pursuing of the US policies, which are aimed at projecting their own economic and social problems and deviating the public opinion from the justice seeking awakening of the nations in this part of the world, and the anti-discrimination and anti-capitalism movement, by creating an unreal atmosphere.

The Iranian nation has many times proved that it would never yield to pressure and unjust moves, aimed at abandoning its legitimate and legal rights, and definitely by resistance in the framework of the fundamentals of justice seeking and belief in international peace and stability, in the future, too, we would not yield to such methods and we remind the point to the leaders of the western countries that any confrontation move against the independence and advancement of the independent countries would lead to further complication of the present day world crises, and the aftermaths of such un-thoughtful decisions and efforts aimed at tension building would be on the shoulders of the European Union.”

The European Union banned imports of oil from Iran on Monday and agreed to freeze the assets of Iran's Central Bank, joining the United States in a new round of measures.

The latest sanction by the European Union will be fully enforced by July 1. The sanction on Iran oil is fraught with risks — of rising energy prices and global financial instability.

After news of the EU move, benchmark crude for March delivery rose 90 cents on the day to 99.23 dollars a barrel in early morning European time in electronic trading on the New York Mercantile Exchange.

The Russian Foreign Ministry said that the sanctions are a severe mistake likely to worsen tensions. 'This is a deeply mistaken policy, as we have told our European partners more than once,' the ministry said in a statement.

Last month, the US enacted new sanctions targeting Iran's Central Bank and its ability to sell petroleum abroad, but it has delayed implementing the sanctions for at least six months, worried about sending the price of oil higher at a time when the global economy is struggling.

China also does not support an embargo, and Japan's Finance Minister Jun Azumi, has expressed concern about the effectiveness of US sanctions on Iran — not to mention their potential impact on Japanese banks.

In addition to Turkey, Greece, Spain and Italy in Europe, Asian customers of IRI’s oil involving China, India, Japan, South Korea plus South Africa have also refused the sanctions or asked to be exempted from it.

Analysts believe that while the new sanctions are the toughest ever imposed, they still contain many loopholes. If Iran oil customers don’t reach a consensus on oil embargo against IRI, partial sanctions could send crude and gasoline prices skyrocketing and therefore, increase Iran revenues which means punishment of US allies.

Iran is expected to still be able to sell its oil to places like China, India or other Asian countries. About 35 percent of Iran's oil exports currently go to China and India.

Washington and its Western allies accuse Iran of trying to develop nuclear weapons under the cover of a civilian nuclear program, while they have never presented any corroborative evidence to substantiate their allegations. Iran denies the charges and insists that its nuclear program is for peaceful purposes only.