More potential buyers for Iranian oil

TEHRAN, Jan. 05 (MNA) – Deputy Oil Minister Amir Hossein Zamaninia says the number of potential buyers of Iran’s oil has increased despite the US sanctions.

Zamaninia said on Saturday that the countries which have recently received sanctions waiver from the US are not willing to buy even an extra barrel of oil from Iran, however, the country’s oil is attracting more potential buyers.

“Regardless of US pressure, the number of potential buyers of Iran’s oil has increased due to the competitive nature of the market and growing cupidity for more profitability,” he said, without providing further details.

He did not deny the adverse impact of US sanctions on Iran’s oil industry and on the livelihood of Iranians, but maintained that the Oil Ministry has mobilized all its forces to blunt the impact of the sanctions.

“Selling oil is currently the top priority of the Oil Ministry so that Iran’s oil market share, which was regained after the JCPOA, would not be lost but be safeguarded,” he added.

US President Donald Trump pulled out of Iran’s historic nuclear deal with six world powers last May. After the withdrawal, Washington unilaterally reimposed sanctions that had been previously lifted under the deal. The sanctions targeting Iran’s petroleum sector were re-enforced in November.

Iran’s crude oil exports hit a record of 2.617 million barrels per day in April, just before Trump announced his country's withdrawal from the deal.

MR/SHANA

News Code 141214

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