Seyed Hassan Aboutorabi

Sanctions, falling oil prices two sides of one coin

TEHRAN Feb 03(Shana)– First Vice Speaker of the Iranian Parliament Mohammad Hassan Aboutorabifard has said that sanctions and falling oil prices are two sides of the same coin.

Addressing a ceremony held by Polymer and Petrochemical Research Institute to commemorate the 36th anniversary of the victory of Islamic Revolution, vice parliament spokesman said, “We should do our utmost to reduce selling crude oil to zero and convert it to products with high value-added and then sell the products instead of crude oil.”

Representing Tehran, Rey and Islamshahr constituency in the Parliament, Abotorabifard said, in order to turn the Islamic Republic of Iran into a powerful producer of commodities, experienced forces could play a crucial role.

“We were not determined enough in the past to do so but the enemy’s initiatives including imposing sanctions in the first place and then pushing oil prices downward have reinforce our will to go ahead with the plan to abandon selling crude,” the lawmaker said.

He said three years ago during the peak days of sanctions, our current expenditure was 1.000 trillion rials but according to Management And Planning Organization figures it has grown to 1.5 trillion rials now implying while the country is facing economic difficulties and sanctions its current expenditures has been on the rise.

According to him, if the country had allocated those 500 trillion to development projects now it would have enjoyed better conditions in view of technology and economic growth.

Abotorabifard expressed hope the next steps that be taken more rationally.


The Iran Project is not responsible for the content of quoted articles.