Iran warns of oil crisis over nuclear issue

Iran's top nuclear official has warned the United States and Europe of the danger of an oil crisis if Tehran is sent before the United Nations Security Council over its nuclear program, but said that a deal with Europe could be near.

"The first to suffer will be Europe and the United States themselves, this would cause problems for the regional energy market, for the European economy and even more so for the United States," Hassan Rowhani, whose country is the second largest oil producer in OPEC, said.

Mr Rowhani, who was speaking at a conference in Tehran on nuclear technology and sustainable development, however expressed optimism that an agreement would be reached with Europe over the development of Iran's nuclear program.

EU members Britain, France and Germany are trying to convince Iran to dismantle nuclear fuel work - which the US says is part of a covert atomic weapons development - in return for economic and political rewards.

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