Iran's oil minister: US sanctions will not affect Iran's oil exports
Iranian Oil Minister Zanganeh told the Russian Satellite News Agency during the OPEC meeting that Iran's oil exports will not be affected by US sanctions and the government is ready to respond.
Zanganeh said: "Exports will not be affected. We have plans to deal with sanctions. We have been dealing with them for 40 years."
Zanganeh pointed out that Iran opposes turning oil into a weapon and hopes that OPEC can avoid politicization and continue to abide by previous agreements.
At the end of 2016, OPEC members and other oil-producing countries reached an agreement in Vienna to reduce daily production by 1.8 million barrels from the level in October of that year, of which Russia reduced production by 300000 barrels. The agreement is valid for the first half of 2017 and can be extended. The agreement was extended by nine months in May to the end of March 2018.
A meeting of the Ministerial Supervision Committee of OPEC and non-OPEC oil-producing countries will be held in Vienna on June 21, a meeting of OPEC countries will continue on June 22, and a meeting of 24 participating countries in the production reduction agreement will be held on the 23rd. It is said that the possibility of expanding mining under the framework of the production reduction agreement will be discussed during the meeting. (From International Oil Network)