Iran has been warning World powers against sanctions which would have major repercussions on them in the first place

Iran has been warning World powers against sanctions which would have major repercussions on them in the first place.

US and EU sanctions on Iran's oil exports will drive up oil prices globally because no viable alternative exists for the Islamic republic's output, Iran's envoy to OPEC was quoted as saying by the Mehr news agency on Tuesday.
  
"If there were an assured substitute for a big oil exporter then the sanctions would not send a price shock to the market.... (But) conditions in different nations show that, in present circumstances, a substitute does not exist," Mohammad Ali Khatibi said.
  
He predicted that "oil prices will continue to rise in the market" because of colder than usual winter weather in America and Europe, and unrest in Sudan, Syria and Nigeria impacting their oil exports. "Geopolitical tensions in the Middle East and the Persian Gulf," were also behind rising oil prices, he stressed.
  
Oil prices on Tuesday slipped slightly, to $100.52 a barrel for light sweet Texas crude and $117.20 a barrel for Brent crude, on worsening economic outlooks for several European countries. But they remained supported generally by the ongoing tensions over Iran.

Thus far, two of Iran's most important oil customers, China and India, have refused to go along with the US sanctions.

In another development, Iran’s ambassador to France said EU sanctions against Iran have mainly put European companies in bad conditions, depriving them of Iranian markets in these tough international economic conditions.
   
According to IRNA, Ali Ahani added in an interview with Radio France Inter, “This condition is to the loss of the western companies, because their products can easily be purchased from other Asian-based, and non-Asian-based companies.”

Focusing on probable invasion of the racist Zionist regime against the Islamic Republic of Iran, Ahani said, “We have no worries at all, because we have predicted all possible scenarios in this respect in advance and we are quite capable of defending ourselves. But whether they would dare to do so or not is another story, because beginning a military invasion against Iran is sheer madness and would have horrible consequences.”

He emphasized, “They might be the initiators of the war against us, but they would not be the terminator of the resulting developments, and they must accept the unpredictable aftermaths for such an action.”