TEHRAN, March 17 (UPI) -- Tehran has plans developed to make up shortfalls from a decision by international companies to stop selling gasoline to Iran, officials said.
Pressure from Washington on economic dealings with Iran because of its controversial nuclear program was credited in part with a decision by international energy traders to stop dealing with Iran.
Iranian Oil Minister Masoud Mir Kazemi said the decision by international companies to stop working with Iran would backfire, Iran's state-funded broadcaster Press TV reports.
"Foreign companies will actually sanction themselves if they stop selling gasoline to Iran," he said.
Iran sits on some of the largest oil and gas deposits in the world, though a crumbling infrastructure forces it to import as much as 40 percent of its gasoline.
Tehran recently unveiled a series of initiatives meant to expand the national refining capacity. Kazemi said that effort could turn his country into an eventual net exporter of gasoline.
Iran can produce more than 11 million gallons of gasoline from seven domestic refineries currently.
"Under an emergency plan, Iran will boost gasoline production by 3.6 million gallons per day if the country finds it necessary," said Kazemi.
