Iranian President Mahmoud Ahmadinejad admitted that sanctions imposed by western states harm Iranian economy, RIA Novosti reports.
The president expressed confidence that the oil problem needs time to be resolved.
Foreign ministers of 27 EU states met in Brussels on January 23 and approved the embargo on Iranian oil exports. The new package of sanctions includes a gradual ban on imports of petroleum from Iran. The embargo came into full force on July 1. EU states want Iran to stop the nuclear program.
European states have enough oil reserves for 4.5 years. Experts say that the EU embargo reduced Iranian oil exports by about 40%.
