Another oil embargo? OPEC producers say it ain't so

| Wednesday, April 03, 2002

Iraq's call April 2 to halt oil shipments to the United States revived fears of the hated 1973 oil embargo - however, OPEC oil producers dismissed the possibility of any repetition. An Iraqi draft resolution supplied to reporters in Baghdad called for a "Total economic boycott against America, including barring it from the Arab oil until it breaks its hateful alliance with the Zionist entity (Israel).

"While Iran's Foreign Minister Kamal Kharrazi said the oil weapon could be an effective tool, he said any action would need the collective approval from the Islamic states. And that would include United States ally Saudi Arabia. Iran has not exported oil to the Unites States since 1995.Saudi Arabia's Foreign Minister Saud al-Faisal said in an interview April 2 there was no question of Arab states withholding oil exports to pressure the United States to resolve the Middle East crisis.Kuwait called the oil embargo proposal "impossible," and Venezuela said it would oppose any form of embargo.

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