Iran: EU Oil Sanctions Will Have 'Serious Consequences'

Iran summons Danish ambassador over EU oil embargo; FM Avigdor Lieberman calls EU move a 'right step in the right direction'.

Iran on Tuesday warned that a wide-reaching oil embargo imposed on it by the European Union would have "serious consequences," while the Foreign Ministry summoned the
Danish ambassador.

"Iran condemns this EU move as illogical and unjustifiable and believes it will have serious consequences for Europeans," the Foreign Ministry said in its first official statement after Monday's sanctions. It did not clarify what the consequences would be.

Iran troops - AFP - January 2012

The ministry also summoned the Danish ambassador, whose country currently holds the rotating EU presidency, and accused the EU of having adopted a "hostile stance" towards Iran, according to the Fars news agency.

EU foreign ministers approved the embargo on Monday as part of "unprecedented" sanctions meant to increase pressure on Iran over its disputed nuclear program.

"The Iranian nuclear programs are peaceful and solely for civil purposes," the foreign ministry statement continued, saying Tehran had been in "constant cooperation" with the International Atomic Energy Agency (IAEA).

"Iran has no hesitation to further make all its nuclear programs transparent," the statement, carried by ISNA news agency, added.

The sanctions would not make Iran give up its nuclear rights, it added.

Meanwhile in Vienna, Israeli Foreign Minister Avigdor Lieberman said the sanctions were "right step in the right direction," but this step would not be enough.

Speaking at a conference on the future of Europe, Lieberman warned that Iran could gain influence in Iraq and in other oil-rich countries of the region in coming years, increasing the country's leverage in global energy markets.