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Iran says may stop oil sales if sanctions tighten

Islamic Republic has contingency plans to survive without oil revenues, minister says

Reuters, Tuesday 23 Oct 2012
Views: 778
Views: 778

Iran said on Tuesday it would stop oil exports if pressure from Western sanctions got any tighter and it had a "Plan B" contingency strategy to survive without oil revenues.

"If sanctions intensify we will stop exporting oil," Iranian oil minister Rostam Qasemi told reporters in Dubai.
"We have prepared a plan to run the country without any oil revenues," he said, adding, "So far to date we haven't had any serious problems, but if the sanctions were to be renewed we would go for 'Plan B'.
"If you continue to add to the sanctions we (will) cut our oil exports to the world."
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