Saturday, September 24, 2005

Iran says sanctions could push oil to 100 usd/barrel

TEHRAN (AFX) - The head of Iran's powerful Revolutionary Guards warned that the imposition of sanctions on the Islamic republic over its nuclear programme could push the price of oil to 100 usd a barrel.

'Any sanction against Iran can make the oil price reach 100 dollars a barrel,' General Yahya Rahim Safavi said in a speech to worshippers attending Friday prayers in Tehran.

Iran is OPEC's second producer.

'Any economic and political pressure on Iran from any power ... will result in a harsh reaction from Iran,' he added.

The Islamic republic 'has a solid and unbeatable defence potential (and) can retaliate and attack the interests of the enemies in remote places,' the general asserted.

Iran insists its nuclear programme is for peaceful purposes only.

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