Energy Risk - Iran Will Not Use Oil as Weapon

Iran's foreign minister said Friday his country would not use oil as an economic weapon against those countries pressing Tehran over its nuclear program.

Iran is second to Saudi Arabia as an oil producer among the OPEC countries.  Foreign Minister Manouchehr Mottaki said Iran had medium and long term obligations to supply oil to different countries, especially in Asia.  "We are not going to use oil as political leverage in conducting our foreign policy," Manouchehr Mottaki said during an appearance at a security think tank in Geneva.  We will respect our obligations in energy."

Mottaki, who was in Geneva for a speech to the 65-nation conference on disarmament, made similar comments earlier this month, casting doubts on a statement by Interior Minister Mostafa Pourmohammadi.  In noting that Iran is rich in oil and natural gas supplies, Pourmohammadi had said his country would "use any means" to defend itself in the nuclear dispute.