"The risks of a confrontation are minimal," Mottaki told a joint news conference with Iraqi parliament speaker Mahmud Mashhadani.

"But in the event that America launches a strike from any place, Iran will retaliate by targeting that place."

US President George W. Bush has refused to rule out a military strike against Iran if negotiations fail to calm suspicions it is trying to develop a nuclear weapon.

But his chief Iraq ally, British Prime Minister Tony Blair, said in an interview released Thursday: "We don't want a conflict with Iran, we have got enough on our plate doing other things."

The Iranian foreign minister said he thought US military action was unlikely but stressed that Tehran was ready for any eventuality.

"I don't think the United States is in a position to create a new crisis for US taxpayers," he said.

"The Americans know they generated only hatred in Muslim and world opinion in the earlier crises.

"The solution to the Iran nuclear issue will come through cooperation or confrontation," he added.

"For our part, we prefer diplomatic means. (But) we are ready for any eventualities and we have told that to the Americans."

The minister denounced what he described as a double standard in international nuclear policy. "Certain countries say that they have the right to possess nuclear weapons, while denying others the right to civil nuclear power."

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