Iran warns Gulf states on oil business

In: Business

12 Feb 2012

The gulf neighbor has been warned by Iran not to step in and make the short coming for the oil exports.The oil exports by Iran which comes under the new western sanction was being warned by Iran. The representative of Opec stated about the oil ban and has even published the comments early this month. To the Sharq newspaper the Mohammad Ali Khatibi stated they would not be considering the actions as friendly.

The oil producing nations which are on the Persian Gulf have decided to substitute the oil of Iran. If they think to substitute they will be held responsibility for what happens for future stated Khatibi. Iran would consider any of the gulf member of the Opec exporting countries which are cooperating with the west. The western nations would be a substitute to the Iranian oil and the other accomplices else there will be consequences.

However the Gulf nations will not cooperate along with the west by pumping more oil from Iran. The warning from Iran comes as US and European Union who have taken up to curb the sanctions. The sanctions from US and European Union to stop the sanctions Iran oil exports and revenue. At present the second biggest oil exporter in Opec is Iran after Saudi Arabia and depends more on petroleum revenues.

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