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Iran urges OPEC members not to aggravate oil embargo

Business Materials 3 February 2012 16:08 (UTC +04:00)

Azerbaijan, Baku, Feb. 3 / Trend S.Isayev, T. Jafarov/

Iran's Oil Minister Rostem Qasemi sent a letter to the OPEC head Abdul-Kareem Luaibi, who is also Iraqi Oil minister, Mehr reported.

Qasemi sent the letter after a number of Arabic countries expressed interest in substituting Iran as an oil supplier to the European countries.

The letter urges the OPEC members not to aggravate the oil embargo against the Islamic Republic.

"Some OPEC countries should pursue reasonable policy. Joint cooperation is important between all regional players," the letter said.

According to foreign media outlets, some Arabic countries of the OPEC, such as Saudi Arabia, OAE and Kuwait expressed readiness to cooperate with the Western countries in terms of oil supply, after the oil embargo was imposed on Iran.

On Jan. 23, EU foreign ministers agreed on Iran's oil embargo banning EU countries from buying Iranian oil in six months.

When current oil contracts for Iran's oil expire, about 27 countries that make up the EU cannot sign new ones. The new sanctions will also freeze some of the Iranian Central Bank's assets. Totally, Iran exports about 2.2 mbpd of oil

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