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Iran Dismisses Gasoline Sanctions as Fruitless.

Summary: TEHRAN (FNA)- Iran announced that any gasoline sanction against the country by certain states will bear no fruit due to the great surplus of refineries and the refining companies' obligation to produce and sell their products.

"Considering the 7 percent negative growth of the developed countries and the likelihood of the insolvency of many refining companies, any discussion of imposing an embargo on the supply of gasoline to Iran on the global markets is futile," managing director of the National Iranian Oil Products Distribution Company (NIOPDC NIOPDC National Iranian Oil Products Distribution Company ) Farid Ameri said on Monday.Noting that Iran has no concerns over supplying its needed gasoline, Ameri reiterated that the country relies on its petrochemical industries to produce high quality gasoline in the near future.He dismissed some media reports on the import of gasoline from Venezuela, and said the agreement signed with the Latin American country is just a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment.  (MoU).Venezuelan President Hugo Chavez had announced his country's preparedness to export 20,000 barrels of gasoline to Iran as soon as October. Speaking in a joint press conference with his Iranian counterpart Mahmoud Ahmadinejad This article or section may contain inappropriate or misinterpreted which do not the text.
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 during an official visit to Tehran in early September, Chavez reiterated that the two countries had signed an agreement in this regard. Iran is the world's fourth-largest exporter of crude oil but due to the lavish consumption of heavily subsidized fuel by Iranian drivers, the country cannot meet its domestic gasoline needs, and is forced to import large amounts which it then sells at very cheap pump prices, burdening the budget. Iran imports 22-25 million liters of gasoline per day at present.

2006 Fars News Agency Fars News Agency (FNA) is an Iranian news agency. It was officially launched in Tehran in February 2002 to "promote the principles of the Islamic Revolution and safeguard national interests". . All rights reserved

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Publication:FARS News Agency
Date:Oct 6, 2009
Words:282
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