BREAKING NEWS

Iran says Saudi won't fill Iran gap in oil embargo

By REUTERS

DECEMBER 14, 2011 12:30

VIENNA - Saudi Arabia will not seek to replace Iranian oil in the case of oil sanctions against Iran, Iranian Oil Minister Rostam Qasemi said on Wednesday.

"We had a full discussion with him yesterday and Mr Naimi rejected replacing Iranian crude if Iran faces oil sanctions," Qasemi told reporters ahead of an OPEC meeting in Vienna.

"We have very good ties and a close relationship with Saudi Arabia," said Qasemi.

Asked at the same press briefing about Qasemi's statement Saudi Oil Minister Ali al Naimi declined comment.

The European Union is considering an embargo on Iranian oil exports that would block the sale of about 450,000 barrels a day from Iran into the EU.

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