Iran can stand 2-3 year oil blockade: Ahmadinejad

Source: Reuters

(Reuters) - Iran has enough funds to withstand a total embargo on its oil sales for two to three years, Iranian media quoted President Mahmoud Ahmadinejad as saying days before the resumption of talks with world powers on Tehran's nuclear programme.

The European Union is set to impose a total embargo on Iranian crude oil from July following similar measures imposed by the United States to try to force Iran to abandon uranium enrichment.

"We must say to them that we have that much saved that even if we didn't sell oil for two to three years, the country would manage easily," a report on Tuesday from Fars news agency quoted Ahmadinejad as saying during a visit to Hormuzgan province.

The United States and its allies hope the sanctions on Iran's energy and financial sectors will force it to abandon uranium enrichment which they suspect is aimed at developing nuclear weapons. Iran says its goals are entirely peaceful.



Read more: http://www.reuters.com/article/2012/04/10/us-iran-oil-sanctions-idUSBRE8390CT20120410