West main loser of oil sanctions, Iran says

Iran Materials 26 September 2012 17:53 (UTC +04:00)

Azerbaijan, Baku, Sep.26/ Trend F.Milad/

The West will be the main loser if Iranian oil is not supplied to the international market, the National Iranian Oil Company's managing director said.

Replacing western countries, such as Britain and France, with new customers was one of the preemptive measures of the Islamic Republic to deal with the sanctions, the NIOC head Ahmad Qalehbani added, the Shana news agency reported.

On September 2, Mohammad-Ali Khatibi, who is Iran's OPEC governor and the director of the National Iranian Oil Company, said Iran's oil exports are at their normal level and are unaffected by Western embargoes.

"We don't see anything abnormal, almost everything is progressing routinely," he told the ISNA news agency.

In July, Oil Minister Rostam Qasemi said that although the West has imposed sanctions on Iran's oil sector with the goal of toppling the Islamic establishment, the country's oil exports will never be halted because oil consuming countries need Iranian crude.

"There are many ways to easily sell oil, one of which is to take advantage of businessmen and the private sector," Qasemi said.

At the beginning of 2012, the United States and the European Union imposed new sanctions on Iran's oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran.

U.S. sanctions entered into force on June 28, while EU bans on Iranian oil imports came into force on July 1.