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Iran fighting 'smart economic war': Ahmadinejad

Published on Dec 23, 2012 6:04 AM
 
Iran is engaged in a "smart economic war" with Western powers whose sanctions against its nuclear programme are hurting some Iranians, President Mahmoud Ahmadinejad said on Saturday. -- PHOTO: AFP

TEHERAN (AFP) - Iran is engaged in a "smart economic war" with Western powers whose sanctions against its nuclear programme are hurting some Iranians, President Mahmoud Ahmadinejad said on Saturday.

"Targeted sanctions, which the enemies say are supposed to be crippling, have led to a drop in our oil" sales, Dr Ahmadinejad said in a live interview on state television, referring to an oil embargo imposed by the European Union.

"They do not even let us transfer the oil money," he said. "They thought Iran's economy would break down, but it did not." "Iran is engaged in a smart economic war with the enemy," he said.

The EU measure, which came into effect in July, ended European purchases of Iranian crude, and has since decreased Teheran's oil exports to its Asian customers from between 10 to 30 per cent.

 
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