{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='IRAN SAYS SANCTIONS AND MILITARY THREAT COULD DRIVE UP OIL PRICES' data-url='/boclips/videos/5c54beead8eafeecae13f394' data-video-url='/boclips/videos/5c54beead8eafeecae13f394' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nIRAN SAYS SANCTIONS AND MILITARY THREAT COULD DRIVE UP OIL PRICES\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eIran warned on Wednesday that constant military threats and economic sanctions against the country will cause an increase in the price of oil and create market volatility.The warning came at a quarterly meeting of OPEC (The Organisation...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eIran warned on Wednesday that constant military threats and economic sanctions against the country will cause an increase in the price of oil and create market volatility.\u003cbr/\u003eThe warning came at a quarterly meeting of OPEC (The Organisation of the Petroleum Exporting Countries) ministers in Vienna, which was being held against a backdrop of a 24 percent crude price decline over the last month or so.\u003cbr/\u003eIn his speech, Rostam Ghasemi, Iran's Oil Minister said, \"Political interventions will disrupt the normal process of oil supply and export.\"\u003cbr/\u003e\"Supplying sustainable energy calls for political and geopolitical stability. Therefore in the shadow of economic sanctions and military threat, the trend of oil production will not be able to meet the expectations of both consumers and producers,\" Ghasemi said.\u003cbr/\u003eSanctions levied by the US over Tehran's refusal to curb its nuclear programme have already cut significantly into exports of Iranian crude, from about 2.5 (m) million barrels a day last year to between 1.2 and 1.8 (m) million barrels now, according to estimates by US officials. \u003cbr/\u003eA European Union embargo on Iranian crude that starts July 1 will tighten the squeeze.\u003cbr/\u003eIran's fellow price hawk Venezuela also condemned the threats and sanctions against Iran. \u003cbr/\u003eOPEC ministers remain deeply divided over how much crude to pump, with Saudi Arabia keen to keep a lid on prices, rival Iran pushing to cut production and Iraq expected to back Iran, its longtime foe under Saddam Hussein.\u003cbr/\u003eTraditional rivals, Sunni Saudi Arabia and Shiite Iran are jockeying for influence in the Middle East and Iran has warned the Saudis not to use the oil weapon against Tehran by increasing supplies to countries that no longer get Iranian crude due to the sanctions. \u003cbr/\u003eAn OPEC report released on Wednesday showed the 12-nation organisation already is producing nearly 33 (m) million barrels a day, close to 3 (m) million barrels more than its overall quota and the most it has pushed out in four years. \u003cbr/\u003ePlentiful supply and weakening demand from the United States, China and the European Union have pulled down prices more than 20 percent over recent months, with US benchmark crude now just above 80 US dollars a barrel and Brent, used to price international varieties of crude, below 100 US dollars a barrel.\u003cbr/\u003eIran and its backers have been traditionally usually defeated by Saudi Arabia, OPEC's powerhouse that accounts for nearly a third of the organisation's production, and its Gulf supporters, and Naimi signalled ahead of Thursday's meeting that his country was not prepared to cut back output .\u003cbr/\u003e1. Wide of OPEC (The Organisation of the Petroleum Exporting Countries) meeting\u003cbr/\u003e2. Saudi Oil Minister Ali al-Naimi leaving his seat to walk onto stage\u003cbr/\u003e3. Wide of stage and large screen on backdrop\u003cbr/\u003e4. SOUNDBITE (Spanish) Rafael Ramirez, Venezuelan Oil Minister: \u003cbr/\u003e\"Unfortunately sanctions against Iran's oil export, threats and even military aggression have become the main tools to settle international disputes. In particular, those related to petroleum.\"\u003cbr/\u003e5. Various of Rostam Ghasemi, Iran's Oil Minister\u003cbr/\u003e6. Cutaway of backdrop\u003cbr/\u003e7. SOUNDBITE (Farsi) Rostam Ghasemi, Iran's Oil Minister:\u003cbr/\u003e\"The use of tools such as sanctions or even direct military intervention in oil producing countries will increase the price of oil and will cause volatility in the international market. Such political interventions will disrupt the normal process of oil supply and export. We also share the opinion that the world economy needs a sufficient and sustainable supply of energy in order to reach stability. And on the other hand, supplying sustainable energy calls for political and geopolitical stability. Therefore in the shadow of economic sanctions and military threat, the trend of oil production will not be able to meet the expectations of both consumers and producers.\"\u003cbr/\u003e8. Mid of Ali Asghar Soltanieh Iran's envoy to the IAEA (International Atomic Energy Agency)\u003cbr/\u003e9. Wide of meeting\u003cbr/\u003e10. Exterior of OPEC building in Vienna\u003cbr/\u003e11. Mid of OPEC logo\u003cbr/\u003e12. 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