Iran: Sanctions could push oil to $160 a barrel

“We must pay close attention when we speak of oil revenues and sanctions against oil sales, who are the winners and the losers of such sanctions?” Hosseini said. “Indeed, it is difficult. But not just for Iran. And we can all rest assured that there will be a considerable increase in international oil market prices. Now, is this the best approach?”

Hosseini said his country has endured sanctions for 33 years and “this really shows that the economy, the economic strength of Iran is in such a way that can withstand these sanctions and will not be the only economy to suffer.”