Iran says Trump's oil ban on Iran is 'self harm' - SHANA

Reuters  |  LONDON 

(Reuters) - U.S. Donald Trump's pressure on international firms not to buy Iranian will drive prices higher and end up hurting his own economy, a senior Iranian official said on Wednesday.

Iran's OPEC governor, Hossein Kazempour Ardebili, said should not be used as a weapon or to make political gains, according to the oil ministry agency SHANA.

"Trump's demand that Iranian oil should not be bought, and (his) pressures on European firms at a time when and are in crisis, when Venezuela's have fallen due to U.S. sanctions, when Saudi's domestic consumption has increased in summer, is nothing but a self harm," he was quoted as saying.

"It will increases the prices of oil in the global markets," he said. "At the end it is the American consumer who will pay the price for Mr. Trump's policy," he added.

(Reporting by Bozorgmehr Sharafedin; Editing by Andrew Heavens)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 04 2018. 17:43 IST