Quantcast
Latest Stories

Iran fighting ‘smart economic war’—Ahmadinejad

By

Iranian President Mahmoud Ahmadinejad. AFP FILE PHOTO

TEHRAN—Iran is engaged in a “smart economic war” with Western powers whose sanctions against its nuclear programme are hurting some Iranians, President Mahmoud Ahmadinejad said on Saturday.

“Targeted sanctions, which the enemies say are supposed to be crippling, have led to a drop in our oil” sales, Ahmadinejad said in a live interview on state television, referring to an oil embargo imposed by the European Union.

“They do not even let us transfer the oil money,” he said. “They thought Iran’s economy would break down, but it did not.”

“Iran is engaged in a smart economic war with the enemy,” he said.

The EU measure, which came into effect in July, ended European purchases of Iranian crude, and has since decreased Tehran’s oil exports to its Asian customers from between 10 to 30 percent.

According to the International Energy Agency, Iranian exports in November were estimated at 1.3 million barrels per day, down from nearly 2.3 million last year.

Ahmadinejad said his government had “so far managed to control” the effects of sanctions on the economy but admitted that “heavy pressure had been exerted on some Iranians because of sanctions.”

He did not elaborate on how Iran was fighting off sanctions for fear the methods would be found by Western powers trying to goad Iran back to the negotiating table over its nuclear ambitions.

“I cannot say what heavy pressure the enemy has imposed, and how we are dealing with them.”

“We have so far managed to control this blow, and it hasn’t turned out the way they predicted,” he said.

Ahmadinejad has faced increasingly scrutiny at home for economic woes, including the collapse of the national currency, which lost more than two-thirds of its value in a 20-day span starting in late September.

Iran’s economy is struggling to cope with the gradual tightening of sanctions by the United States and the European Union over the past two years.

The sanctions have also targeted Iran’s access to the global banking system, slowing its economy, accelerating inflation and boosting the ranks of the jobless.

Ahmadinejad was speaking to report on his government’s implementation two years ago of a controversial plan to cut subsidies on food and energy and redistribute it in form of social assistance.

The plan to generate tens of billions of dollars in additional revenues for his government has been criticised by his opponents, who blame it partially for Iran’s runaway inflation.

Ahmadinejad said his government had devised schemes to diffuse the effects of Western sanctions in the “long-term.”

“We have prepared long-term plans to decrease dependency on the oil-generated money. We will not allow them to use economic measures as a tool for putting pressure on us anymore,” he said.

He said without elaborating that Iran was to “increase its non-oil exports.”

His remarks came as Western powers engaging Iran to resolve a years-long dispute over its nuclear programme are pressuring Tehran to return to the negotiating table.

Iran has yet to respond to offers of renewed negotiations with the so-called P5+1 group, consisting of the five permanent members of the UN Security Council plus Germany.

Iran insists its programme of uranium enrichment is for purely peaceful purposes, and denies Western and Israeli allegations that it wants to manufacture nuclear weapons.

In addition to US and EU measures, Iran is also under four rounds of Security Council sanctions.


Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: economic war , European Union , Iran , nuclear power , President Mahmoud Ahmadinejad




Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
  1. Estrada: Gigi Reyes won’t testify vs JPE
  2. Gigi Reyes’ only option: tell all
  3. Unease in Vatican over cardinal’s luxury flat—report
  4. Santiago sees Palace hand in Gigi’s return
  5. Malaysia Airlines jet turns back after tire burst
  6. Gigi Reyes back to face charges
  7. Aquino vows to intensify anti-corruption drive further
  8. In the know: Gigi Reyes
  9. Healing priest invites political leaders to join ‘prayer for nation’
  10. ‘Malang’ next crocodile attraction after ‘Lolong’
  1. Kim Henares needs a reprimand, says Cayetano
  2. Suspect in Vhong Navarro mauling tries to leave PH
  3. More legal woes for Cedric Lee
  4. Enrile chief aide back in PH ‘to face charges’
  5. ‘No real progress in PH if dynasties not dismantled’
  6. Henares on Pacquiao bashing: I did not start this
  7. ‘Mom, I love you,’ says text from student on sinking ferry
  8. Massive infra spending set
  9. Fr. Suarez says last Mass on Easter before returning donated land to San Miguel
  10. I’ll follow my conscience on Estrada, says JV Ejercito
  1. KL confirms Malaysian Airlines Flight MH370 ended in Indian Ocean
  2. MRT passengers pass the hat for 6-year-old Ashley
  3. Rookie, lady cops lauded for quick response to MOA heist
  4. Malaysia averts another air tragedy; pilot lands troubled plane safely
  5. Revilla says he was joking; Lacson stands by his story
  6. Revilla ‘consulted’ Lacson on how he evaded arrest
  7. Cudia, dismissed for lying, got 99% in conduct
  8. Police rule out foul play in Helena Belmonte’s death as boyfriend is ‘traumatized’
  9. Kim Henares needs a reprimand, says Cayetano
  10. Hammer-wielding robbers cause chaos at Philippines’ Mall of Asia
Advertisement

News

  • Car hits packed US church, injuring about 20
  • LPA enters PH, to bring rains and thunderstorms
  • Sing-along saint: Showbiz world gets papal inspiration
  • Two-thirds of underwater search done, no sign of MH370
  • S. Korea prosecutors turn to mobile app for ferry probe
  • Sports

  • Reigning champs Miami open playoffs with win
  • Spurs subdue Mavericks in playoff opener
  • Wawrinka beats Federer to win Monte Carlo Masters
  • Ageless Hopkins pitches 50-50 Mayweather deal
  • Goodbye MGM, Las Vegas for Pacquiao?
  • Lifestyle

  • Miss America: Don’t suspend teen over prom invite
  • Transitions and resurrection in the performing arts
  • ‘Archaeology tour’ of Cebu’s heritage of faith
  • Historic Fort Bonifacio tunnel converted into a septic tank
  • ‘Imports’ from London, and play of the year
  • Entertainment

  • Discovery network cancels Everest jump
  • ‘Captain America’ stays strong atop US box office
  • Easter musings
  • Solenn in shorts
  • Unmerry mix of attention-calling moves on ‘Mini-Me’ TV tilts
  • Business

  • Oil prices down in quiet Asian trade
  • Asian shares mixed in holiday-thinned trade
  • BDO seen keen on bidding for Cocobank
  • Bataan freeport investment pledges up 1,302%
  • Golden Week
  • Technology

  • PH has slowest internet in Southeast Asia
  • Nintendo’s trailblazing Game Boy marks 25th anniversary
  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Opinion

  • Gigi’s home
  • Palace stonewalls on MRT inquiry
  • Couple of things too
  • There is plenty of water behind Wawa Dam
  • Triduum thoughts of a young boy
  • Global Nation

  • Obama on mission to quiet Asia skeptics
  • Search for Etihad passengers launched
  • Japan presents $57-B ‘dream plan’ to solve Metro congestion
  • Tim Tebow’s charity hospital in Davao seen to open in 7 months
  • OFW died of Mers-CoV in Saudi Arabia, says family
  • Marketplace
    Advertisement