Iran calls on EU states to review decisions on oil embargo

Iran on Saturday called on the European Union (EU) to review its decision on sanctioning Iran’s oil exports, saying that it will not retreat from its position.Iran’s Oil Minister Rostam Qasemi on Saturday called on the EU states to review their decision on the oil embargo on Iran.He made the remarks referring to the recent EU endorsement of the latest restrictive sanction measures on Iran’s oil exports adopted by the EU foreign ministers on Jan. 23.He said that EU states’ oil imports from the Islamic republic is not significant and it “just” comprises 18 percent of its total oil exports.“Generally, sanctioning Iran’s oil is not a practical option since it will have a significant impact on the (energy prices) in the market ... and the prices will rise dramatically,” said the minister during a press conference.Late in January, Qasemi said that according to the Iranian Oil Ministry’s future plans, “we will cut our exports to certain countries” in response to EU’s recent oil embargo against Iran.On Saturday, Qasemi said that Iran will not retreat from its position even if it cannot sell a drop of oil.Qasemi said that “Because of political and propaganda pressures, we will not give in or retreat from right position even if we cannot sell a drop of oil.”The Western countries, especially the United States, are thinking that under the pressures Iran will surrender, but Iran, by no means, will give up its inalienable rights of advancing with technology, said the Iranian minister, adding that it is better for them to cooperate with Iran.Qasemi said that Iran will definitely stop its oil exports to certain European countries, but he did not identify the countries.Asked about the possibility of closure of the Strait of Hormuz by the Islamic Republic, he said that Iran is not after creating tensions. In the meantime, he added that the Oil Ministry is not dealing with political issues.