Iran refuses to comply with 'illegal' US oil sanctions

Economy | Politics 1/10/2019, 12:31 PM
Iran refuses to comply with 'illegal' US oil sanctions

Iran's Petroleum Minister Bijan Zanganeh (pictured) said during a visit to Iraq on Thursday that Tehran does not intend to comply with the United States sanctions on its oil exports, calling Washington's measures "fully illegal."

In November, the US introduced sanctions on Iranian crude and threatened countries which continue trading with Iran with "severe, swift punishment." Washington stressed its goal is to bring Tehran's oil exports to zero.

The US granted temporary waivers from the sanctions to China, India, South Korea, Japan, Italy, Greece, Taiwan, and Turkey. Iran's deputy minister of petroleum for international affairs and commerce, Amir-Hossein Zamani-Nia, said over the weekend that those countries do not want to buy oil from Tehran anymore. However, the official stressed that the number of potential buyers of Iranian crude has risen as a result of "the competitive nature of the market and growing cupidity for more profitability."

Breaking the News / NP