Iran Press/ Iran news: At a ceremony marking World Standards Day on Sunday in Tehran, Vice-President Es’hagh Jahangiri said that although some countries have stopped importing Iranian oil due to impending US sanctions, Iran has actually found new clients for its oil.
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US President Trump thinks that Saudi Arabia could make up for the absence of Iranian oil in the global market, but the fact is that it cannot do so, and the oil prices have spiraled higher, added Jahangiri.
Jahangiri dismissed US’ claims about choking off Iran’s oil revenues, saying while some countries have stopped importing Iranian oil due to concerns over US’ impending sanctions, Iran has found new clients for its oil, Mehr News Agency reported.
Jahangiri reassured that Iran has ways to make revenues from oil exports, adding that the export of non-oil products would also increase, noting the country’s high capacity for production, particularly with respect to knowledge-based products.
He stressed that the US sanctions, although unjust and unlawful, have created the opportunity to better support domestic production.
Jahangiri further called on private, semi-public and public exporters to make haste in bringing their foreign exchange earnings from exports into the market.
Related news: India refuses to comply with U.S. new sanctions on Iran
Meeting with Iranian foreign minister Mohammad Javad Zarif, last month on the sidelines of the U.N.'s annual meeting in New York, Indian foreign minister Sushma Swaraj stressed that her country will continue to purchase Iran's oil.
Zarif said after meeting, "Our Indian friends have always been categorical in terms of their intention to continue economic cooperation and (the) import of oil from Iran. And I heard the same statement from my Indian counterpart."
The Trump administration had threatened to bring down Iran's oil exports to zero, but now the administration has decided to allow some countries to continue importing Iranian oil, at least temporarily, according to U.S. officials who confirmed to the Washington Free Beacon that some nations may get a temporary pass from a cadre of new sanctions set to be imposed next month.
Related news: Japan asks US for relief from Iran sanctions
Meanwhile, White House National Security Adviser John Bolton said that the administration’s goal was that there would be no waivers and “exports of Iranian oil and gas and condensates drops to zero.”
Back in May, the US withdrew from a 2015 multilateral nuclear agreement with Iran and said it would re-introduce the sanctions that had been lifted under the accord.
Washington reinstated a series of unilateral sanctions against Iran in early August and would re-impose a second batch in November which would primarily be meant to undermine Tehran’s oil exports.
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