According to reports, Iran’s Oil Minister Rostam Qasemi has said that the Iranian government is ready to confront the new set of sanctions, and that the price of oil will differ from the current one if Iran’s exported oil is not in the market. He stressed Iran’s position that the oil market should not be politicised and the citizens of importing countries will have to pay the price for such political decisions.1 Meanwhile, a Foreign Ministry spokesperson has advised the P5+1 group to enter negotiations with Iran “seriously and based on the Non-Proliferation Treaty”. 2

In another development, reports noted that Iran has been elected as one of the deputies for drafting a bill to regulate the international arms trade treaty during the fourth day of the UN Arms Trade Treaty Summit held in New York with representatives of 193 countries. Representatives have one month to draft and get approval on the bill to regulate current uncontrolled arms trade. 3

• 1. “Iran completely ready for new set of sanctions - oil minister”, Mehr news agency, July 1, 2012
• 2. “Sanctions are 'threat' against security of oil supply says Iran official”, Interview with Foreign Ministry Spokesperson Ramin Mehmanparast by Sadeq Salmani headlined: "P5+1 should enter the negotiations based on NPT" by Iranian newspaper Iran on July 3, 2012
• 3. “Iran elected as deputy for UN Arms Trade Treaty Summit”, Islamic Republic News Agency, July 7, 2012