January 20, 2006	Friday	Zilhaj 19, 1426

TEHRAN, Jan 19: Iran again warned Western nations on Thursday they risked sparking an oil crisis if economic sanctions were slapped on Tehran over its disputed nuclear activities. “In case of sanctions, other countries will suffer as well Iran, but the damage will be more for them, because one of the consequences will be the unleashing of a crisis in the oil sector and particularly a price hike,” Oil Minister Davoud Danesh-Jafari said, according to the official news agency IRNA.

However the minister did not raise the possibility of any suspension or restriction of Iranian oil supplies in case of sanctions.

“The conditions are not right for a Security Council referral because Iran has done nothing illegal,” Mr Danesh-Jafari said.

Iran currently produces about four million barrels of oil a day and exports 2.4 million barrels.

Oil prices have been sent higher on continued supply worries over Iran and the situation in Nigeria, where separatists blamed for a string of attacks on oil installations have called on foreign energy companies to leave.

New York’s main contract, light sweet crude for delivery in February, firmed six cents to 65.79 dollars per barrel in electronic dealing. On Wednesday it hit an intra-day high of 66.93 dollars, last seen September 29.

In London on Thursday, the price of Brent North Sea crude for March delivery rose 43 cents to 64.62 dollars per barrel.

SYRIA SUPPORTS IRAN: Sria said on Thursday Iran had a right to acquire nuclear technology for peaceful means and demanded Israel be stripped of its suspected nuclear arsenal.

Iranian President Mahmoud Ahmadinejad held talks with Syrian President Bashar al ssad at the start of a two-day visit to Damascus, his first since he took office in August.

Syria and Iran both risk showdowns with the UN Security Council — Damascus over a UN inquiry into the murder of a Lebanese ex-prime minister and Tehran over its nuclear plans.

“We support the right of Iran and any state in the world to acquire peaceful technology,” Assad told a joint news conference after the talks. “Cou-ntries who oppose this gave no convincing reason, regardless of whether it is legitimate or not.”

Assad renewed Syria’s call for a Middle East free of nuclear weapons and said “the beginning should be with Israel”. The Jewish state is widely believed to have nuclear weapons.

Syria also faces pressure from the Security Council, which passed a resolution in October demanding it cooperate fully with a UN inquiry into the Feb. 14 assassination of former Lebanese Prime Minister Rafik al Hariri or risk further action.

Syria has denied any involvement in the murder but has said it will not allow investigators to question Assad in the case.—AFP/Reuters