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Total CEO criticizes Iran sanctions

Source: Radio Zamaneh

Chief Executive Officer of the French oil company Total called petroleum sanctions against Iran a "mistake" that would only hurt the people of Iran.

Addressing an economic forum in southern France Christophe de Margerie said: "We do not think an embargo on the delivery of petrol products is a good way to settle differences of a political nature."

De Margerie added: ""I maintain this is a mistake. The embargo affects the population, too many things are politicized these days."

AFP reports that de Margerie maintained that the recent embargo on the supply of petroleum products to Iran is not the optimum method to resolve political differences with Iran and said it was a "serious mistake to mix things that are civil and political".

The UN Security Council adopted a new resolution to impose sanctions on Iran on June 9 in order to reign in Iran's nuclear programme.

Obama Signs Tough, New Iran Sanctions Legislation

Since then the EU and the US have gone on to impose further unilateral sanctions against Iran. The US sanctions would prevent international companies that have commercial ties with Iran from doing business with the US.

Last Thursday Total spokesperson announced that the company's sale of Petrol and petroleum products to Iran has been suspended in response to the extended US and EU sanctions against Iran.

Russia has also condemned imposing further sanctions on Iran beyond the UN resolution.

Iran is the fourth producer of crude oil in the world; however, due to limited refining capabilities, it is heavily dependent on import of petroleum products.

Iranian government has currently rationed sale of petrol to control domestic consumption.

... Payvand News - 07/03/10 ... --

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