Iran warns of consequences if Arabs back oil sanctions
Iran warned Gulf Arab neighbours on Sunday they would suffer consequences if they raised oil output to replace Iranian crude facing an international ban. Iranian OPEC Governor Mohammad Ali Khatibi said Tehran would regard as an unfriendly act any move by neighbouring Gulf Arab oil exporters to make up for Iranian crude.
"If (they) give the green light to replacing Iran's oil these countries would be the main culprits for whatever happens in the region - including the Strait of Hormuz," Khatibi told the Sharq daily newspaper, referring to the narrow sea channel through which a third of the world's oil tanker traffic passes. (Reuters)
