Iranian Foreign Ministry: US military intervention in Syria may trigger more unrest in the Middle East; Iran increased its exports of iron ore and iron products to China and India
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    • According to reports, Iranian Foreign Ministry spokesman Abbas Araqchi reacted to recent strong remarks on Syria by US Secretary of Defence Chuck Hagel, warning against any move or statement which may trigger more unrest in the Middle East. Araqchi stated, “The problem in Syria can only be resolved through dialogue and finding a peaceful solution. And there is currently no international permission on initiating a military offensive against Syria.” He also noted, “We hope there would be enough wisdom in the White House to not engage in such a risky battlefield… We have had enough crises and problems in the Middle East and it is hoped that some governments not to intensify the current situation through their imprudent policies.” However, Earlier, US Secretary of Defence Hagel had noted that the United States was positioning naval forces and assets in anticipation of any decision by President Barack Obama to order military action against Syria.1

    In another development, according to reports, Iran is raising its exports of iron ore and iron products to China and India in an attempt to replace at least a small part of the massive revenue that has been lost due to sanctions on its oil sales. While Iran’s oil exports have halved in the last few years due to Western sanctions over the country’s nuclear program, iron ore exports have grown by more than 60 percent over the same period to an annual rate of about 25 million tons, worth about 3 billion dollars a year at current prices. Iran’s oil revenue was $69 billion in 2012, according to estimates from the U.S. Energy Information Administration. It has overtaken India to become the fourth-largest iron ore supplier to China in the last year. Iran’s exports to the world’s top iron ore consumer rose 35 percent to 13.4 million tons in the seven months to July, according to Chinese customs figures. “We’re selling more iron to India and China,” said an Iranian industry source on condition of anonymity. “No money is coming directly to Iran because of the issues with currency (trading in dollars), so in some cases there are some barter deals, otherwise cargoes are paid mostly with cash.”2

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