Iran threatens legal action over oil embargo

July 5th, 2012 - 8:32 am ICT by IANS  

Tehran, July 5 (IANS) Iran has called the Western sanctions “unproductive” and threatened to take legal action against the European oil embargo.

Chief of Iran’s Chamber of Commerce, Industry, Mines and Agriculture Mohammad Nahavandian said Wednesday that Iran may take legal action at the International Court of Justice in the Hague against Western sanctions, Xinhua reported.

The US and the European Union (EU) have imposed several rounds of sanctions to pressure Iran to give up its uranium enrichment activities. On Sunday, an EU oil embargo against Iran took effect.

An Iranian lawmaker Wednesday reiterated the threats that Iran would close the Strait of Hormuz in the Persian Gulf if Western sanctions against Iran increase.

“If we completely go under the sanctions, we will not let a single drop of oil pass through the Hormuz Strait,” said Arsalan Fathipour, head of the Economic Commission of Iranian Majlis.

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |