• 3 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 7 minutes Saudi and UAE pressure to get US support for Oil quotas is reportedly on..
  • 11 minutes China devalues currency to lower prices to address new tariffs. But doesn't help. Here is why. . . .
  • 15 minutes What is your current outlook as a day trader for WTI
  • 1 hour Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 5 hours In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 2 hours Will Uncle Sam Step Up and Cut Production
  • 8 hours Gretta Thunbergs zero carbon voyage carbon foot print of carbon fibre manufacture
  • 8 hours Continental Resource's Hamm (Trump Buddy) wants shale to cut production.Can't compete with peers. Stock will drop in half again.
  • 20 hours US Petroleum Demand Strongest Since 2007
  • 20 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 19 hours Movie Script: Epstein Guards Suspected Of Falsifying Logs
  • 8 hours Strait Of Hormuz As a Breakpoint: Germany Not Taking Part In U.S. Naval Mission
  • 3 hours Significant: Boeing Delays Delivery Of Ultra-Long-Range Version Of 777X
  • 2 hours Why Oil is Falling (including conspiracy theories and other fun stuff)
  • 3 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel

Iran’s Oil Minister: We Will Not Comply With Illegal U.S. Sanctions

Bijan Zanganeh

Iran will not be complying with the “fully illegal” U.S. sanctions, Iranian Oil Minister Bijan Zanganeh said on Thursday, in yet another defiant statement from Tehran after the American sanctions on Iran’s oil and shipping industry snapped back in early November.

“We believe that we should not comply with the illegal sanctions against Iran,” Reuters quoted Zanganeh as saying at a joint press conference with Iraq’s Oil Minister Thamer Ghadhban during a visit to Baghdad.

While it stays under U.S. sanctions, Iran will not be discussing the volume or the destination of its oil exports, the Iranian oil minister noted.

During his visit to Iraq, Zanganeh discussed with his counterpart cooperation in different areas, “especially on oil issues,” the Iranian minister said.

Iraq and Iran have not reached yet any agreement on potential development of the oil fields the two countries share, Iraq’s minister Ghadhban said.  

Since the U.S. sanctions on Iran’s oil entered into force on November 5, Iran has continuously claimed that the United States will not be able to choke off all its oil exports.

A month after the sanctions were reinstated, Iran’s First Vice-President Eshaq Jahangiri said that the Iranian government could manage the country even without relying on oil export revenues.

Iran’s President Hassan Rouhani, meanwhile, reiterated in early December that the U.S. cannot stop Iran from exporting its oil.  

“The United States said it would stop Iran’s oil export and business relations, making Iran isolated, but it could not do it and it won’t be able to sever our relations with the peoples of the region,” Rouhani said in an address.

“We will sell our oil and they can’t stop us from doing this, said Rouhani adding, “If the US wants to stop our oil sales, no oil will be exported from the Persian Gulf,” according to Rouhani’s speech as carried by the official website of the Iranian President.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play