Iran has threatened to close the Strait of Hormuz, cutting off the transport of 20% of the world's oil exports
Oil tankers cruise out the Strait of Hormuz off the shores of Oman. Iraqi Oil Minister Abdelkarim al-Luaybi will visit Tehran on Thursday to call for an easing of tensions over crude exports passing through the Strait of Hormuz amid a showdown between Iran and the West. © Marwan Naamani - AFP/File
Iran has threatened to close the Strait of Hormuz, cutting off the transport of 20% of the world's oil exports
AFP
Last updated: January 19, 2012

Iraq oil minister to visit Iran over strait tensions

Iraqi Oil Minister Abdelkarim al-Luaybi will visit Tehran on Thursday to call for an easing of tensions over crude exports passing through the Strait of Hormuz amid a showdown between Iran and the West.

Luaybi, whose country currently holds the presidency of oil cartel OPEC, will "discuss the stability of the oil market, because it affects the economy, and he will discuss keeping the entrance to the sea open," an oil ministry official told AFP.

"We are not for the use of oil in politics, because it affects people in the world," the official said.

Western governments have moved to step up sanctions on Iran over its nuclear programme, threatening an embargo on its oil exports.

The step has drawn an angry response from Tehran, which has threatened to shut the strait -- a choke point for world oil transport -- if it is attacked or heavy sanctions are imposed.

blog comments powered by Disqus
Stay Connected
twitter icon Twitter 13,558 linkedin icon LinkedIn 463
facebook icon Facebook 87,173 google+ icon Google+ 272