Minister: Sanctions not affect energy investments in Iran

Iran Materials 31 January 2012 15:28 (UTC +04:00)

Azerbaijan, Baku, Jan. 31 / Trend F.Milad/

Iranian Oil Minister Rostam Qasemi has said international sanctions have not affected investments in Iran. He made the remark in an interview with IRNA in Tehran, saying the EU's sanctions against the country will have negative consequence.

A law to be debated in parliament on Sunday could halt oil exports to the EU as early as next week.

Parliament is pushing for an export ban to deny the EU Iranian oil given new Western sanctions aimed at forcing Iran to curb its nuclear program.

The EU accounted for 18 percent of Iranian crude oil sales in the first half of 2011, according to the U.S. Energy Information Administration, making it Iran's second biggest customer after China.

The EU slapped new sanctions against Iran in a meeting on Jan. 23.

The 27-member bloc agreed to ban oil imports as well as petroleum products from the major OPEC member state and freeze the assets of the Iranian Central Bank across the EU.