Tehran, March 18, IRNA -- Irans Petroleum Minister Bijan Namdar Zanganeh said on Tuesday that the United States will not impose embargo on Russias oil because of its repercussions on the market.In an interview with Shana News Agency, Zanganeh said :The world oil market cannot deal with the [repercussions of the] elimination of [Russias] oil if Russia is slapped with sanctions, and banning this countrys oil is impossible.
?Such a thing is impossible to happen because the market cannot tolerate the elimination of Russias oil, he said.
It is very unlikely that the US will be able to eliminate a significant share of Russias production from the market, Zanganeh noted.
The minister warned of price hikes, should the US imposes sanctions on Russias oil.
By IRNA
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