Gulf Countries

U.S. sanction pressures can’t bring Iran’s oil exports to zero: Minister

U.S. sanction pressures can’t bring Iran’s oil exports to zero: Minister

TEHRAN (Rahnuma): The U.S. sanction pressures can’t bring Iran’s crude exports down to zero in the long run, Iran’s oil minister said Monday.

Even in the short run, it is “also a dream which will never come true,” despite that Washington plans to do so, Bijan Namdar Zanganeh told reporters.

None of Iran’s customers, except the Republic of Korea, has halted oil purchases from Iran, he noted.

Iran’s Ministry of Petroleum announced on Sunday that ROK has halted oil imports from the Islamic republic.

Despite global outcry, the Trump administration re-imposed its first batch of sanctions on Iran last month, which should have been lifted under the 2015 Iranian nuclear deal.

The first batch of sanctions targeted Tehran’s purchase of U.S. banknotes, trade in gold and other precious metals, as well as the use of graphite, aluminum, steel, coal and software used in industrial processes.

A second round of sanctions, due on Nov. 5, will be imposed on Iran’s port, energy, shipping and shipbuilding sectors, its petroleum-related transactions, and business deals between foreign financial institutions and the Central Bank of Iran.

In May, U.S. President Donald Trump announced U.S. withdrawal from the 2015 landmark Iranian nuclear agreement.

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