Iran's Minister of Economic Affairs and Finance Shamseddin Hosseini says the West uses the issue of oil as a political tool to create instability in the global energy market.
Hosseini said on Monday that Iran has never used its capacities, including resources such as oil, as a political tool, while the West has used the issue of oil as a political tool, which will lead to instability in the energy market.
The Iranian minister made the remarks during a meeting of the Non-Aligned Movement (NAM) in New York.
Hosseini further downplayed the US-engineered sanctions on Iran and said the West had made a “miscalculation” by imposing the bans.
“We are familiar with economic sanctions, but with the spiteful interpretations of unjust resolutions, the West has imposed the toughest sanctions on Iran,” Hosseini stated.
The Iranian minister also pointed to Iran’s economic and social capacities and underlined its great achievements in various fields, including aerospace and nanotechnology.
At the beginning of 2012, the United States and the European Union imposed new sanctions on Iran’s oil and financial sectors.
Washington and the European Union used the false claim that Iran is pursuing non-civilian objectives in its nuclear energy program to impose the illegal sanctions. Iran, however, categorically rejects the allegation.