2 May 2024
Thursday 21 January 2016 - 12:05
Story Code : 197903

Iran ambassador to Russia says current oil prices 'unacceptable

Irans Ambassador to Russia Mehdi Sanai that Tehran will continue relying on the internal resources even after the lifting of international sanctions imposed on the country over its nuclear program controversy.

MOSCOW (Sputnik) Irans Ambassador toRussia Mehdi Sanaei said Wednesday that the current slide inglobal oil prices was 'unacceptable.'
"The current price is simply unacceptable incomparison withother energy resources and expenses onoil production ingeneral," Sanaei said inan interview withRossiya-24 television.


On Wednesday, Brent oil futures withsupply inMarch 2016 fell 2.99 percent to $27.9 a barrel onthe London's ICE onexpectations that Iran's return onoil markets afterthe lifting ofWestern sanctions onTehran will worsen the current oil glut even further.

Sanaei also stated that Tehran will continue relying onthe internal resources even afterthe lifting ofinternational sanctions imposed onthe country overits nuclear program controversy.
"Removal ofsanctions, ofcourse, is a great success forIran, butTehran cannot ignore the fact that it is necessary torely onour own forces," he said.


The ambassador added that even undersanctions Iran continued its development due tothe reliance onits own resources.
New country's development plan, being prepared inIran, also assumes that the key factor forthe country's economy growth will be "national resources," the ambassador added.

Iran and six world powers Russia, the United States, China, France, Britain, and Germany signed a nuclear deal last July. It guaranteed the peaceful nature ofIran's nuclear program inexchange forsanctions relief.

The United Nations, the European Union and partially the United States lifted their sanctions againstthe Islamic Republic afterthe International Atomic Energy Agency verified onSaturday Tehrans compliance witha nuclear agreement.
By Sputnik
https://theiranproject.com/vdciuyazpt1a332.ilct.html
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