Iran warns of $200 oil if US pursues sanctions

CARACAS, Venezuela, Aug 3 (Reuters) Global oil prices could hit 0 per barrel if the United States pursues sanctions against Iran for its nuclear development program, an Iranian official told Venezuelan state TV on Thursday.

Iran's Foreign Relations Vice Minister, Manuchehr Mohammadi, said, ''the first consequence of these sanctions would be an increase in the price of oil to around 0 per barrel.'' REUTERS PKS GC2029