Iran warns sanctions may plunge world into trouble

Iran Materials 24 January 2012 11:42 (UTC +04:00)

Azerbaijan, Baku, Jan. 24 / Trend F.Milad/

The Iranian Ministry of Petroleum has issued a statement in response to the new sanctions imposed by the European Union against the Islamic Republic's oil industry, saying that the EU took a 'hasty decision' which could negatively affect the world as a whole.

The statement has referred to using crude oil in the world's political equations as a risky tool which could burden the developing and the developed countries with huge economic losses.

"It could also lead to instability in supply and demand of energy worldwide and aggravate the economic crisis in Europe," the statement said.

The European Union tightened the sanctions around Iran by imposing new round of penalties during EU foreign ministers' meeting in Brussels on Monday.

The EU members, who previously blocked 443 Iranian entities' and 113 true personalities' assets step by step, this time agreed on Iran oil embargo, alongside freezing Iranian Central Bank's assets, gold and petrochemicals trade. Europe has blocked all Iranian banks' assets including Melli, Saderat, Refah, Mellat banks, except Tejarat and Central banks.