Azerbaijan, Baku, Dec. 6 /Trend A.Badalova/
Iran's oil minister Rostam Ghassemi doubts that the European Union embargo on imports of Iranian oil will be put into effect, Energy Intelligence Group reports.
"They are very wise," Ghassemi said on the sidelines of the World Petroleum Congress in Doha.
According to the minister, the proposed ban would cause more damage for the eurozone countries than Iran itself.
The European Union is considering a ban on oil imports from Iran. The possibility of Iranian oil import embargo will be discussed during the EU foreign ministers' meeting in Brussels this week. The ministers are expected to add close to 200 Iranian companies and individuals to its sanctions list.
EU has already accepted additional sanctions against 179 individuals and institutions associated with the Iranian authorities. The decision was taken at the meeting of the EU countries FMs in Brussels.
Earlier the Iranian Foreign Ministry stated that if sanctions were imposed on Iran's oil exports, the global price of crude would increase above $250 a barrel.
"As soon as such an issue is raised seriously the oil price would soar to above $250 a barrel," Foreign Ministry spokesman Ramin Mehmanparast told the Sharq newspaper in interview.
According to the U.S. Energy Information Administration stats based for January-June of 2011, Iran exported 450,000 b/d to Europe Union, 341,000 to Japan, 328,000 to India, 244,000 to South Korea, 182,000 to Turkey and 543,000 to China.