Turkey's energy minister said Friday that recent EU decision to tighten energy sanctions on Iran in the wake of new UN action would affect EU countries more than it would affect Turkey.

Speaking to reporters at St. Petersburg International Economic Forum, organized by Russia as an alternative to Davos World Economic Forum, Taner Yildiz said that energy sanctions on Iran were not considered in a commercial point of view.

Yildiz said commercial point of view would require more supplier countries and more competition for energy supply to Europe.

He said recent EU decision was likely to be reconsidered in the coming period, adding, "it would not be commercially true to ignore world's second-largest natural gas reserves."

"Risk at Turkish straits"

Upon a question, Yildiz said that Turkish government's priority would be control of maritime traffic at Turkish straits.

"Especially after the oil rig accident in the Gulf of Mexico, we have to focus on vessel traffic at Istanbul strait to ensure zero threat and risk," Yildiz said.

He said that traffic on Istanbul and Canakkale straits was increasing every other day and that Turkey should think of reducing this traffic using ways to by-pass straits.

"We cannot just be an onlooker to this rising traffic. We are planning a meeting in Istanbul at the end of this month with executives of 10 or 12 giant oil companies, including BP, Exxon Mobil and Chevron," Yildiz added.

Stating that every year 150 million tons of crude oil and petroleum products were being transferred through Turkish straits, Yildiz said, "we have to discuss the matter in detail with these companies. We attach great importance to this meeting to minimize risks and highlight environmental awareness.

"Russia acknowledges Turkey's concerns over the vessel traffic at Turkish straits," he added.


AA