WRAPUP 6-Iran warns region against 'dangerous' stance on Hormuz

Thu Jan 19, 2012 3:34pm GMT
 

* "Don't get dragged into dangerous stance", Iran warns

* Message addressed to U.S-backed Gulf Arab oil exporters

* France sees EU imposing oil sanctions on Iran on Monday

By Tulay Karadeniz

ANKARA, Jan 19 (Reuters) - Iran's foreign minister warned Arab neighbours on Thursday not to put themselves in a "dangerous position" by aligning themselves too closely with the United States in the escalating dispute over Tehran's nuclear activity.

Iran has threatened to close the Strait of Hormuz, used for a third of the world's seaborne oil trade, if pending Western moves to ban Iranian crude exports cripple its lifeblood energy sector, fanning fears of a slide into wider Middle East war.

European Union foreign ministers are expected at a meeting on Monday to agree an oil embargo against Iran and a freeze on the assets of its central bank, French Foreign Minister Alain Juppe said, confirming diplomatic leaks.

Saudi Arabia, the world's No. 1 oil exporter, riled Iran earlier this week when it said it could swiftly raise oil output for key customers if needed, a scenario that could transpire if Iranian exports were embargoed.   Continued...

Market Update

  • Africa
  • US
  • Europe
  • Asia
  • CAC40
UK £ USD =1.5914
Euro USD =1.2724
Rand USD =0.1203