A looming oil embargo on Iran, related to its controversial nuclear programme, will destabilise the global oil market, Iranian Oil Minister Rostam Qasemi warned on Wednesday in Vienna.
The European Union sanctions, due to come into force on July 1, “will result in an unstable oil market and ultimately lead to a sharp swing in the price of oil,” he said on the eve of a meeting of the OPEC oil cartel. - Sapa-AFP