SWIFT sanctions to be removed in coming days

TEHRAN, Dec. 29 (MNA) – Deputy oil minister has announced that Iran will be put back on Society for Worldwide Interbank Financial Telecommunication (SWIFT) system in the next few days.

“Provided that the US will remain fully committed to JCPOA, the SWIFT will be restored offering the opportunity for economic growth,” noted Mansour Moazemi.

Pointing to the sharp decline in global oil prices, Moazemi said “in order to compensate for the loss in oil incomes, the bulk of country’s non-oil exports needs to increase from 48 billion dollars to 60 to 70 billion dollars.”

He stressed that the lifting of sanctions will offer the possibility to enlarge Iran’s non-oil exports during the post sanction period.

Moazami, who is also head of energy committee of the Tehran Chamber of Commerce, noted Iran’s capability to increase daily crude production by 500 barrels emphasizing “in six months’ time after the removal of international sanctions, the goal of increasing daily oil exports by one million barrels will be achieved.”

Deputy petroleum minister for planning and monitoring of hydrocarbon resources refuted the Western media claim that the increase in Iran’s oil exports will cause turbulence in the world market; “the bale should be put on some OPEC countries which have deployed an extra 1.8 million ballers of crude oil to the market.”

“With the sanctions relief, it would become possible to provide financial resources and technology required for oil industry projects,” maintained Moazemi concluding “we need to properly manage imports and use the sanctions removal opportunity to bring new technologies.”




News Code 113212


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