World to Be Affected If Iran Oil Exports Hampered: Zanganeh

TEHRAN (Tasnim) – Iranian Oil Minister Bijan Namdar Zanganeh referred to the US plans to cut down the Islamic Republic’s oil exports down to zero and said if the conditions for Iran become difficult, it would have a negative effect on the global oil market.

World to Be Affected If Iran Oil Exports Hampered: Zanganeh

Speaking to reporters at a press conference in the southern province of Bushehr on Saturday, Zanganeh pointed to the US sanctions against the Iranian oil sector and said, “We are taking (the necessary) measures to export Iran’s oil.”

But if they (the US officials) make conditions difficult for the exports, conditions will also become more difficult for the world, the minister added.

Zanganeh further pointed to the possible extension of the US sanctions waivers and said he is unaware whether the exemptions are going to be extended or not but Iran will do what is necessary under any conditions. 

Iran’s exports of crude oil were higher than expected in January and were at least holding steady last month, according to tanker data and industry sources, as some customers have increased purchases due to waivers from US sanctions, according to media reports.

The US government imposed a new round of sanctions on Iran in November 2018.

In May last year, the US president pulled his country out of the Joint Comprehensive Plan of Action (JCPOA), the nuclear deal that was achieved in Vienna in 2015 after years of negotiations among Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

The US had announced plans to drive Iran’s oil exports down to zero, but backed off from its policy and granted waivers to at least 8 countries that import Iranian oil.

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