Reuters – Iran said on Sunday the European “definitely” will not impose sanctions on the country’s oil exports as the measure will harm the global crude market, the Oil Minister Rostam Qasemi said.

“Our policy is sustainable supply of oil to Europe … Iran is a major oil producer and any sanctions on our oil export will definitely harm the global market,” Qasemi told a news conference.

EU leaders called on Friday for more sanctions against Iran by the end of January, in an effort to increase pressure on Tehran over its nuclear programme, which the United States and its allies say is a cover to build bombs. Tehran denies this.

“We can easily replace the European market,” Qasemi said.

(Writing by Parisa Hafezi; Editing by Sanjeev Miglani)