Making the remarks at the Parliament, the Iranian minister continued that “the demand-supply chain is fragile now and the announcements of US and its allies reveals their concern about the market’s reaction.”
Calling the oil market unpredictable, Zanganeh said that “we cannot be sure that oil will be produced as much as needed, since some regional countries put their production capacity higher than reality.”
“The US and its allies in the region use oil as a political weapon and have to wait to incur losses made by their decision,” he added.
As reported, Trump is to sharply accelerate its goal of driving Iran’s oil exports to zero, ending sanctions exemptions that it previously granted to some of Iran's major customers.
In reaction to US announcement that it will not reissue sanctions waivers on Iran oil in May, Iranian Foreign Ministry Spokesman Seyyed Abbas Mousavi said that Iran considers the whole US illegal sanctions and their waivers as 'worthless.'
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