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April 10, 2012 7:57 am

Iran’s Economy Can Last “2-3 Years” With Oil Embargo

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Iranian President Mahmoud Ahmadinejad. Photo: wiki commons.

Washington Post/AP – Iran can manage its economy even without crude exports, President Mahmoud Ahmadinejad claimed on Tuesday as Tehran cut off oil sales to Greece, the third European nation to be hit by an Iranian retaliatory measure ahead of EU’s oil embargo.

Iran had warned in February that it may extend an earlier embargo imposed on Britain and France to other European countries, after the EU set a ban on Iranian oil over the country’s controversial nuclear program. The EU ban is to go into effect in July.

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