OIL CONSUMER# TALKS Shah makes threat about pressures

Press, Volume CXIV, Issue 33453, 7 February 1974, Page 13

OIL CONSUMER# TALKS Shah makes threat about pressures

(X.Z.P.A.-Reuter—Copyright) LONDON, February 6. The Shah of Iran, in an interview published today, said that if oil consumer States tried to pressurise oil producers they would get less petroleum. The Shah, speaking to a correspondent of the London "Daily Telegraph” in Zurich, Switzerland, directed his comments at next week's conference of oil-consuming nations in Washington convened by President Nixon.

He defended the decision of oil producers in increasing their prices and proposed that oil-producing States could set up a bank financed by surplus oil revenue to lend effective aid to developing countries.

If the Washington conference, the Shah said, “gave the slightest evidence of wanting confrontation with the oil producers, they will regret it very dearly. I have a warning to give.

“You can quote me clear and loud that if the consumer countries would like Ito put pressure on us. they would get much less oil.’’ The Shah told the “Daily Telegraph” that he would propose to other oil-produc-ing countries tire setting up of a “completely neutral board that will study the needs of the developing countries and then put orders quite impartially to the industrial countries, so that ■ what is needed is manufactured arid sent there.” : Manufactured aid was ■more effective than financial aid, he said, as it would ensure that projects were carried out and money could not! be used for other purposes.;

The Shah said that revenue from a barrel of oil in 1947 bought more than it did today even after the price of increases of oil. “We in the Gulf have been blamed for raising oil prices, but Venezuela and Canada have done the same, and when your (Britain’s) North Sea oilfields are in production, who will question the prices you decide? “So what is the difference between you blue-eyed people and we dark-eyed people?” he said, j Informed European sources isaid that France had finally 'accepted a United States invitation to attend the Wash(ington conference of oiljconsuming countries. The sources said that the decision was taken yesterday in Brussels, where European Common Market ministers were reported to have de-

cided on a united stand fori the February 11 conference.! France had been the only! one of the 11 invited count-! ries which had not said it ; would attend the conference,] called by President Nixon to co-ordinate the policies of i major oil-consuming nations?