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Iran: EU to Lose From Sanctions
Source: Alalam.ir, 25-06-2008
BRUSSELS--Iran has warned the EU it will lose out from its new sanctions aiming to pressure Tehran over its nuclear program, in comments by the deputy foreign minister to be published Wednesday.
Mahdi Safari, quoted in an interview with the Austrian newspaper Die Presse, said: "Who is going to lose? The Europeans."
"If they want to stop doing business, no problem. We have gas and oil resources that the whole world wants to buy from us."
EU nations on Monday agreed new sanctions over Tehran's nuclear program, notably banning the country's largest bank, Bank Melli, from operating in Europe.
Safari warned in the interview: "We are going to withdraw our money and invest it elsewhere."
"If we withdraw $100 billion from European banks, that will of course prompt a lack of money and have consequences for the world economy."
The sanctions, adopted by EU ministers, also added 20 individuals and 15 organizations to the union's blacklists imposing visa bans and asset freezes.
The EU move, along with a string of UN sanctions against Iran adopted since 2006, aims at persuading it to suspend its uranium enrichment activities.
Tehran, a signatory to the nuclear Non-Proliferation Treaty (NPT) which stipulates uranium enrichment for member states, stresses it wants atomic energy only for a growing population whose fossil fuels will eventually run out.
EU foreign policy chief Javier Solana visited Tehran on June 14 to present a cooperation offer to Iran on behalf of the six major countries negotiating with it on the issue -- Britain, China, France, Germany, Russia and the US.
The proposal offers Iran technological incentives in exchange for it suspending the process of uranium enrichment.
Safari said Iran was examining the proposal and had found there was some "common ground" between the two negotiating sides.
Meanwhile, A London-based subsidiary of Bank Melli said on Tuesday it would take action in British and EU courts to challenge the legality of sanctions imposed by the EU.
The subsidiary, Melli Bank Plc, said it would apply to the British courts for judicial review and an interim injunction to suspend the application of an EU asset freeze.
"Melli Bank Plc will also be initiating proceedings before the European Court of First Instance to challenge the legality of the decision," it said in a statement.
BRUSSELS--Iran has warned the EU it will lose out from its new sanctions aiming to pressure Tehran over its nuclear program, in comments by the deputy foreign minister to be published Wednesday.
Mahdi Safari, quoted in an interview with the Austrian newspaper Die Presse, said: "Who is going to lose? The Europeans."
"If they want to stop doing business, no problem. We have gas and oil resources that the whole world wants to buy from us."
EU nations on Monday agreed new sanctions over Tehran's nuclear program, notably banning the country's largest bank, Bank Melli, from operating in Europe.
Safari warned in the interview: "We are going to withdraw our money and invest it elsewhere."
"If we withdraw $100 billion from European banks, that will of course prompt a lack of money and have consequences for the world economy."
The sanctions, adopted by EU ministers, also added 20 individuals and 15 organizations to the union's blacklists imposing visa bans and asset freezes.
The EU move, along with a string of UN sanctions against Iran adopted since 2006, aims at persuading it to suspend its uranium enrichment activities.
Tehran, a signatory to the nuclear Non-Proliferation Treaty (NPT) which stipulates uranium enrichment for member states, stresses it wants atomic energy only for a growing population whose fossil fuels will eventually run out.
EU foreign policy chief Javier Solana visited Tehran on June 14 to present a cooperation offer to Iran on behalf of the six major countries negotiating with it on the issue -- Britain, China, France, Germany, Russia and the US.
The proposal offers Iran technological incentives in exchange for it suspending the process of uranium enrichment.
Safari said Iran was examining the proposal and had found there was some "common ground" between the two negotiating sides.
Meanwhile, A London-based subsidiary of Bank Melli said on Tuesday it would take action in British and EU courts to challenge the legality of sanctions imposed by the EU.
The subsidiary, Melli Bank Plc, said it would apply to the British courts for judicial review and an interim injunction to suspend the application of an EU asset freeze.
"Melli Bank Plc will also be initiating proceedings before the European Court of First Instance to challenge the legality of the decision," it said in a statement.
