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Iranian Oil Minister: U.S. sanctions will not affect Iranian oil exports

Iranian Oil Minister: U.S. sanctions will not affect Iranian oil exports

(Summary description)Iranian Oil Minister Zanganeh told the Russian satellite news agency during the OPEC meeting that Iranian oil exports will not be affected by US sanctions and the government is ready to respond.

Iranian Oil Minister: U.S. sanctions will not affect Iranian oil exports

(Summary description)Iranian Oil Minister Zanganeh told the Russian satellite news agency during the OPEC meeting that Iranian oil exports will not be affected by US sanctions and the government is ready to respond.

Information

   Iranian Oil Minister Zanganeh told the Russian satellite news agency during the OPEC meeting that Iranian oil exports will not be affected by US sanctions and the government is ready to respond.

 

  "Exports will not be affected and we have plans to respond to sanctions, and we have been responding for 40 years," Zangane said.

 

  Zangane pointed out that Iran is opposed to turning oil into a weapon and hopes that OPEC can avoid politicization and continue to abide by the previously reached agreement.

 

  At the end of 2016, OPEC member countries and other oil-producing countries reached an agreement in Vienna to reduce the daily output by 1.8 million barrels from the October level of that year, of which Russia reduced 300,000 barrels. The agreement is valid in the first half of 2017 and can be extended. The term of the agreement was extended for 9 months in May this year and ended at the end of March 2018.

 

  The ministerial supervisory committee meeting of OPEC and non-OPEC oil-producing countries will be held in Vienna on June 21, the OPEC national meeting will continue on June 22, and the meeting of 24 participating countries will be held on the 23rd. It is said that the possibility of expanding mining within the framework of the production reduction agreement will be discussed during the meeting. (From the International Petroleum Network)

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