Islamabad, April 30:
A proposed gas pipeline from Iran to Pakistan and India will not be affected if the UN imposes sanctions on Tehran over its controversial nuclear programme, an Iranian minister said today.
â€œI donâ€™t think anybody could put sanctions on the oil industry and gas industry,â€ deputy oil minister Mohammad-Hadi Nejad-Hosseinian told a press conference in Islamabad after three days of talks on the project.
â€œDue to the sensitivity of the oil market any action like that will increase oil prices very high and I believe that the UN and any other body will not put any sanctions on oil or the oil industry,â€ Nejad-Hosseinian said.
The International Atomic Energy Agency (IAEA) on Friday confirmed that Iran had not complied with a UN Security Council demand to freeze uranium enrichment, which can be used to make the explosive core of nuclear bombs. The US and European powers are now poised to seek a Security Council resolution legally obliging it to meet IAEA and Council demands.
Iran insists its nuclear programme is a peaceful effort to generate electricity and therefore legal. The pipeline is estimated to cost more than seven billion dollars.