Iran pledges to react fiercely to any attack
IRAN: Iranian Oil Minister Gholam Hossein Nozari warned on Wednesday
that any attack on his country would meet with a fierce reaction and
have severe consequences for the already volatile oil markets.
"For Iran, if there would be any kind of activity of any sort, it is
not going to be quiet and it is going to react fiercely," Nozari told
reporters on the sidelines of the World Petroleum Congress in Madrid.
"Nobody can even imagine what would be the reaction of Iran now," he
said, without specifying possible actions from his oil-rich country.
World oil prices have been hovering above 140 U.S. dollars per barrel,
fluctuating toward new highs amid concern over increasing tension
between Iran and the West. The United States and Israel have never ruled
out the possibility of a military attack against Iran.
"We do not think that wise people in the world even think about any
action like that," Nozari said, adding any attack at this moment would
severely affect the oil markets. "Can you imagine if any action happens
... what would be the result in the oil market?" he asked.
On the question of whether Iran would stop oil exports if attacked,
Nozari said, "Iran has always been a reliable source of supply to the
market, and Iran remains a supplier forever." OPEC President Chakib
Khelil said on Tuesday that threat against Iran and a weakening U.S.
dollar were the major forces behind the oil price hike. Nozari
apparently agreed with Khelil, blaming the devaluation of the U.S.
dollar for the oil price hike.
"(The price of) 140 (U.S.) dollars you have seen nowadays is part of
the devaluation trend of the dollar. If this trend is going to continue,
it looks as if we have no other choice but to see higher prices," he
said through a translator.
Nozari said Iran stands ready to raise supply to the market if there
is demand.
Thursday, Xinhua |