→ 06 Apr 12 at 8 am
The comment comes as on January 23, EU foreign ministers approved sanctions against Tehran, including a ban on Iranian oil imports, a freeze on the assets of the Central Bank of Iran (CBI) within the bloc’s states and a ban on selling diamonds, gold, and other precious metals to Tehran.
The EU sanctions are meant to coerce Iran into abandoning its nuclear energy program and based on allegations that Tehran’s civilian energy program may be a cover for acquiring nuclear weapons capability.
Iran rejects the allegations, arguing that as a committed signatory to the nuclear Non-Proliferation Treaty and member of the International Atomic Energy Agency, it has the right to use nuclear technology for peaceful purposes.
Oil prices have shot up in recent months in the wake of Iran’s decision to halt its crude sales to certain European countries in response to the EU oil embargo on Tehran.
Iran has already cut oil exports to France, Britain and Greece in retaliation for the Western-led sanctions on its oil industry.
Press TV has conducted an interview with philosopher and political commentator, James Fetzer, to further discuss the issue.’