Iran warns of spread of eurozone crisis to other countries
Iran’s Minister of Economic Affairs and Finance Shamseddin Hosseini has expressed concern over the wider ramifications of the eurozone’s economic crisis for the global economy.
Addressing the spring session of the Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G24) in Washington DC on Friday, Hosseini pointed to the repercussions of the global economic crisis and warned that, under the existing circumstances, undivided attention must be devoted to the exacerbating eurozone crisis and its spread to the other parts of the world.
“The European sovereign debt crisis has been combined with other risks, particularly [those of] instability, oil shortage and the fluctuations in the crude market,” he added, noting that the existing predicament has been brought about due to “political interference” and “deploying economic means for political purposes.”
Hosseini lashed out at the West’s “unilateral and politically-motivated” embargoes against Iran over its nuclear energy program and argued that the “unfair” sanctions against Iran’s banking system and oil exports have merely led to further instability in the global energy market.
The Iranian minister also expressed the Islamic Republic’s support for poverty elimination programs and called on the G24 to take practical measures with regards to the issue.