Iran readies strategic reserves ahead of sanctions
NICOSIA Ñ Iran is building its strategic fuel reserve ahead
of expected Western sanctions.
In August 2009, Iran reported 1.4 billion liters of gasoline in its
strategic reserves. This marked a 250 million liter increase compared to the
same period in 2008.
Officials said the Teheran regime has been bracing for the prospect of
Western sanctions that would target gasoline exports to Iran.
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They said Iran
has been modernizing and building refineries to ease the repercussions of
any Western sanctions. Iran has been importing more than 20 million liters
per day of gasoline.
On Aug. 20, President Mahmoud Ahmadinejad said Iran would complete a
major refinery by 2011 that would make the country self-sufficient in
gasoline.
