Iran Press/Africa: The Donald Trump administration's crackdown on Iran won't completely wipe out the nation's oil exports, according to Emmanuel Kachikwu.
Nigeria's petroleum minister made the remarks in an exclusive interview with CNN Anchor, John Defterios on Thursday.
"It's not possible," the OPEC member added.
The White House vowed this week to zero out Iran's oil exports by removing waivers that allowed some countries to keep buying crude from the sanctioned country.
“There are always ways of going around the sanctions. We have a PhD in that area,” Iranian Foreign Minister Mohammed Javad Zarif said in an exclusive interview with Reuters on Wednesday.
Nigeria's petroleum minister said Iran would "sell oil somehow" to smaller third parties, though at lower volumes than today.
Facts Global Energy, a consulting firm, suggested in a report this week that Iran will smuggle out 200,000 to 300,000 barrels of rebranded oil per day through Iraq, Pakistan and perhaps Turkey.
"They will definitely sell oil," Kachikwu noted.
The Nigerian oil minister said he wants to see OPEC and its allies extend their production agreement when the group meets in Vienna next month. However, he conceded that OPEC and its allies could decide to increase output.
Kachikwu lamented the fact that the world is now looking to OPEC to "pick up the can."
"OPEC is formed as a cartel to look at its members' interests," he said. "It's not, quite frankly, to concur to the needs of global world powers because we can't play that sort of game."
White House said US President Donald Trump has decided not to re-issue waivers that allow eight countries to buy Iranian oil without facing US sanctions when they expire in May.
Trump had earlier vowed to reduce Tehran’s oil revenue to “zero.”
Iran has, however, vowed to use its decades of experience with US bans and go around the new ones.
Speaking in a meeting with a group of labourers from across the nation on April 24, Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei assured that Iran will continue its oil exports as much as it intends. 101/201
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