Madrid, Aug 4, IRNA-Iran's deputy foreign minister, Manouchehr Mohammadi, warned on Friday that price of crude oil will exceed 200 dollars if the Untied Nations Security Council issues sanctions on Iran.
Speaking to reporters in Caracas, Venezuela, on Friday, Mohammadi said imposing sanctions on Iran will emanate negative consequences, the first of which will be higher price of crude oil.
He added Iran will not ignore its right to peaceful use of nuclear energy within framework of the Non-Proliferation Treaty.
He noted that threats also cannot deprive Iran from its legal and inalienable right to nuclear energy.
"Iran is ready to confront with any kind of probable threat and sanctions," he assured.
The United Nations Security Council ratified a statement last week, urging Iran to stop its peaceful nuclear program by the end of August.
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