Russia, China agree to refer Iran to UN
(bloomberg.com)
Updated: 2006-02-01 10:04

Won't Halt Oil Exports

Iran, the world's fourth-biggest oil exporter, won't halt oil exports because of the dispute over its nuclear program, the country's oil minister said.

``We have no reason to stop our exports'' if Iran's nuclear dispute is discussed by the UN Security Council, the Iranian minister, Kazem Vaziri-Hamaneh, told reporters today in Vienna, where he is attending an OPEC meeting. ``We are not mixing politics with the economic decision on this issue.''

Oil futures have risen to more than $68 a barrel in New York this month, bolstered by tension over Iran's nuclear program and attacks by militants on Nigerian oil sites.

Iran restarted work on uranium enrichment for research purposes over western objections. The EU and U.S. suspect the Iranian government intends to build an atomic bomb and want assurances that the nuclear program is for electricity. Iran warned Jan. 19 of a global oil crisis in the event sanctions are imposed.

The agreement came hours after the Europeans and Iranian diplomats met at the request of Iran's government and European officials said the Iranians made no fresh offers.