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Madinat al-Muslimeen Islamic Message Board
| Iran wields oil embargo threat |
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| BrKhalid |
| 04/05/02 at 05:31:57 |
| Asalaamu Alaikum About time perhaps??? [hr] Iran's supreme leader Ayatollah Ali Khamenei has called on Islamic oil-producing countries to suspend their exports to "pro-Israel" western states. "Arab governments can use oil as a weapon. They can cut off the flow of oil to all the countries which have good ties with Israel," Mr Khamenei said in a sermon during the Friday Prayers in Tehran. Mr Khamenei said that exports should be stopped "for a symbolic period of one month." Iran is the second largest exporter of oil from the Middle East and a member of the Organisation of Petroleum Exporting Countries (Opec). Iraq has previously also called for such an embargo, but Saudi Arabia and Kuwait both rejected the idea. On Thursday, Opec - the cartel that controls 40% of the world's crude supply - said it would not use oil as an economic weapon. Iran is an important member of the cartel but is generally not thought to have as much influence as Saudi Arabia. A 1973 embargo by Opec members caused a severe oil shock and widespread economic chaos around the world. [url]http://news.bbc.co.uk/hi/english/business/newsid_1912000/1912795.stm [/url] |
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