A senior Israeli official has called on the US to impose sanctions on Iran’s oil sector in a meeting with a number of American foreign and defense ministry officials.
Israeli Deputy Foreign Minister Danny Ayalon tried to persuade Americans to target Iran’s oil sector during a meeting with US Undersecretary of State for Political Affairs Wendy Sherman, the Israeli news outlet Ynet reported on Monday.
Israel reportedly told the US that an oil ban on Iran would not drive up global price.
Tel Aviv says other oil manufacturers, including Saudi Arabia, should increase production in order to reduce global dependency on Iranian oil supply.
Sherman is scheduled to travel to Saudi Arabia and other Persian Gulf littoral states following the meeting to discuss the Israeli plan.
Israeli officials are also lobbying for the plan by talking to oil manufacturers.
This is while IHS Cambridge Energy Research Associate reported this month that the plans to enforce sanctions on Iran’s oil industry could drive up oil price and wreak havoc on the global market.
The report said Iran’s oil revenues will hit record of more than 100 billion dollars this year, and the result of any possible sanction is a higher profit for Tehran, because it will sell the oil to someone else.
Last month, the US, and Britain imposed unilateral sanctions on Iran’s energy and financial sectors after the International Atomic Energy Agency (IAEA) claimed Iran’s nuclear program had a military aspect.
The US and its allies accuse Iran of pursuing a military nuclear program and have used this allegation as a pretext to convince the UN Security Council to impose four rounds of sanctions on the country.
Tehran has refuted Western allegations, saying that as a signatory to the Nuclear Non-Proliferation Treaty (NPT), it has the right to acquire and develop atomic technology for peaceful purposes.