'KSA lobbied Asian states to ban Iran oil'

Tue Jan 17, 2012 7:7PM GMT

Saudi Arabia's oil minister Ali al-Naimi noted the Kingdom is able to produce 12.5 million barrels per day (bpd) of crude oil but is currently producing around 9-9.5 million barrels.

A senior Iranian lawmaker says Saudi Arabia has been trying to lobby Asian states to back the US and EU sanctions against Iran's oil industry.

“Such measures will yield no results because other countries will never sacrifice their national interests for the sake of the political objectives of arrogant powers,” Mohammad Karamirad said Monday.

Pointing to Riyadh's readiness to increase oil output, the Iranian lawmaker said, “Saudi Arabia and certain Persian Gulf littoral states lack a correct understanding of international and regional affairs” and follow global hegemony policies “without considering the consequences.”

Earlier this week Saudi Arabia's oil minister Ali al-Naimi said the Kingdom is able to produce 12.5 million barrels per day (bpd) of crude oil but is currently producing around 9-9.5 million barrels.

He went on to stress that the Kingdom is ready to meet the increase in global demand as a result of “any circumstances.”

The EU foreign ministers are expected to hold a meeting later this month on January 23 to discuss proposed embargo on Iran's oil exports. EU members have so far failed to reach a final agreement on the exact timing of the sanctions and it may take months before sanctions actually enter into force.

This is while an unnamed Saudi oil ministry official told the Associated Press on December 27 that Arab nations are prepared to offset any potential loss of Iranian oil in the world market as a result of international sanctions against the country.

His remarks came after Iran's First Vice President Mohammad-Reza Rahimi warned that the imposition of oil sanctions against the Islamic Republic would prompt Tehran to prevent oil cargo from passing through the strategic Strait of Hormuz.

“If they impose sanctions on Iran's oil, not even a drop of oil will be allowed through the Strait of Hormuz,” he added.

MR/HGH/IS