Iran diplomat downplays embargo threat MOSCOW, Jan. 20 (UPI) -- Iran's ambassador to Moscow says he doesn't think Europe will impose an embargo on Iranian oil exports. Ambassador Seyed Mahmoud-Reza Sajjadi said Iran "has its traditional oil-importing clients" who would not break their contracts with Iran under U.S. pressure, RIA Novosti reported Friday. Tehran has threatened to blockade the Strait of Hormuz if economic sanctions by Western nations limit or prevent Iranian oil exports from reaching their destinations. Oil exports make up some 80 percent of Iran's foreign revenues, the Russian news agency said. EU foreign ministers trying to pressure Iran into dumping its nuclear program meet Monday to discuss sanctions against Iran that include a possible oil embargo and freezing Iran's central bank assets. "I doubt that the oil embargo, on which the Americans are pinning hopes on, will be imposed," Sajjadi said.