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| Syria-Lebanon-Iran |
| Iran will not be fazed by sanctions |
| 2010-05-27 |
| [Iran Press TV Latest] Libya's top oil official says new sanctions against Iran would create difficulties but the Islamic Republic would be able to live with them. "It will create difficulties, but it is not going to kill them," Shokri Ghanem, the chairman of Libya's National Oil Corporation, said at the Reuters Global Energy Summit in London on Wednesday. "We had sanctions for 20 years. What did it do to us? Not very much," Ghanem added. Sanctions on Libya were lifted in 2004 after Tripoli renounced banned weapons programs and agreed to pay compensation to the families of those killed in the 1988 bombing of a US airliner over the Scottish town of Lockerbie. "I don't think this is a prudent policy," he said and called for diplomacy on Iran. "Countries can live through difficulties," Ghanem added. The Libyan official said he did not believe Iran, a fellow OPEC member, would be subject to sanctions on its oil exports. "If you embargo oil exports from Iran, you are taking 3 million or 3.7 million barrels a day from the market. That will lead to an immense increase in the price of oil," he said. "They are cutting their own noses." |
| Posted by:Fred |
| #1 Iran won't even notice them. |
| Posted by: g(r)omgoru 2010-05-27 02:35 |