IRAN'S OIL

Press, Volume CXV, Issue 33944, 10 September 1975, Page 17

IRAN'S OIL

Revenue of 521.980 m TEHERAN. Sept. 9 nounced that his country's 'reach an estimated $21,980m (this vear, compared with |s2o36m four years ago. ' Opening a new Parliamentary session, the Shah maintained that the increased oil prices were reasonable and 'inflation in industrialised countries had reached 12 to 115 per cent, and even as !much as 27 per cent, in recent years, and this had naturally caused a reaction on the part of those countries Ito which this inflation was “exported.” he said. This reaction could not now be fought by so-called gun|boat diplomacy, but. instead, 'the issue should lx* solved .through understanding and | realistic negotiations. The Shah said that oil was not an everlasting natural ]wealth, and. therefore, it had ito be used with the utmost care. I Iran had already taken the (necessary steps to gain access to other sources of energy, and, in particular, the peaceful use of nuclear energy. , On foreign affairs, the (Shah said that the Gulf and (the Indian Ocean must remain free from foreign intervention and Great Power military rivalry. The security ,of the Gulf should be maintained exclusively by the lit‘toral States.