Tuesday, March 19th | 12 Adar II 5779

July 31, 2012 11:25 am

Ahmadinejad Calls for Oil Export Halt

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Oil Pipeline. Photo: Wiki Commons.

Israel National News – Whether bluff or bluster, Iranian President Mahmoud Ahmadinejad has called for a total halt to cure oil exports, a move that could be economic suicide but also could cause a worldwide depression. Iran relies on oil for approximately 80 percent of its foreign income, which Ahmadinejad needs to continue his race for nuclear capability.

Iranian media, controlled by the government, reported Tuesday that he accused world powers of manipulating the oil industry and that halting exports of crude oil would put pressure on oil producers. “The real price of oil should have been very much higher in the market than what it is presently,” he said.

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