Iran to revise economic relations with EU - finance minister
Azerbaijan, Baku , Oct. 31/ Trend F.Milad/
Iran's Minister of Economic Affairs and Finance Shamseddin Hosseini said on Tuesday that Iran will revise its economic relation with the EU in future.
In future Iran will shift its economic focus from European countries to other customers, the Mehr News Agency quoted Hosseini as saying.
He went on to note that the slide in Iran's rial is not intentional and the government is trying to combat this sharp decline.
Deputy Foreign Minister Seyyed Abbas Araqchi said on October 8 that Iran will never have difficulty selling its crude oil.
Iran is selling oil continuously and so far has managed to receive the revenues without any great difficulty; The Fars News Agency quoted Deputy Foreign Minister for Asia and Pacific Affairs as saying.
"Iran is gradually shifting its economic focus from Europe to Asia," he said.
"Oil is a valuable, high-demand global commodity. Therefore Iranian oil would not remain unsold. If some countries reduce their purchase, we have other customers willing to increase their imports," Araqchi stated.
Iran's finance minister said on October 12 that despite sanctions imposed on the country by Western nations, Iran's foreign exchange reserves are in a "good position".
Shamseddin Hosseini told reporters the government was taking steps to curb speculative demand and other measures to combat a sharp decline in Iran's rial.
The Iranian parliament (Majlis) is studying a motion to oblige the Islamic Republic to reduce its oil exports in retaliation for the European sanctions against the country's energy sector, a lawmaker says.
"The motion will in the first stage require the government to cut oil exports and in case of tighter sanctions, (the motion) envisages a complete halt of Iran's oil exports," Seyyed Mehdi Mousavinejad, member of Majlis Energy Committee said earlier this month.
"Unfortunately, our enemies are exploiting oil as a means against the Islamic Republic establishment in order to ratchet up economic pressure on [Iranian] people.... When we see the Western world is using oil in this way, it would be natural for us to stop them," he said.