Tuesday, October 23, 2012
Iran says may stop oil sales if sanctions tighten
DUBAI (Reuters) - 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."
(Reporting by Daniel Fineren and Amena Bakr; writing by Christopher Johnson; editing by Keiron Henderson)