21 Feb 2024
Monday 8 February 2016 - 17:56
Story Code : 200829

Speaker: Saudi oil reduction plot failed to harm Iran

TEHRAN (FNA)- Parliament Speaker Ali Larijani said that Saudi regimes plot to plunge crude oil prices from 110 to 22 dollars per barrel has not distressed Iran because of the Islamic Republics cutting back its dependency on oil revenues.

Saudis attempted to reduce oil prices and brought it down from around 110 dollars a barrel to 23 dollars, which will damage themselves, he said in a local meeting in his election constituency of Qom.

Referring to the resistive economy policies stipulated by the Supreme Leader of Iran which focuses on domestic production, he added, Iran exports 50 billion dollars of non-oil products which is not sufficient.

There are many countries which were disturbed by the plummeting oil prices, but Iran was not affected much although it had to slow down the countrys development trend, Larijani said.

We must be realistic under current conditions, the speaker stressed, The wheel of production will not start with selling of oil. Production has to be activated using resistive policies.

By Fars News Agency
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