Iran warns of oil price hike if sanctions imposed

TEHRAN (AFP) – Iran has warned major oil-consuming nations that the imposition of UN sanctions over its refusal to halt uranium enrichment would lead to a rise in oil prices. “Sanctions on Iran and a sudden rise in global oil prices would hurt the economies of the large oil consuming nations,” Deputy Foreign Minister Ali Reza Sheikh-Attar was quoted as saying by Iranian news agencies.
“With the rise of every dollar in the oil price, the economy of the large oil-consuming nations will be affected,” he added, without elaborating.

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