Monday, Jan 18

Despite US sanctions, Iran found new 'potential' oil buyers

All countries that were granted waivers from the US to continue buying a certain amount of Iranian oil imports are complying with US sanctions, a senior Iranian energy official said.
05.01.2019 - 13:27

The United States withdrew from a nuclear deal with Iran last year and snapped sanctions in place to choke Iran’s oil and banking industries, while temporarily allowing eight customers to keep buying crude from the Islamic Republic.

TEHRAN IS HOPEFUL TO FIND NEW BUYERS

“China, India, Japan, South Korea and other countries that were granted waivers from America to import Iranian oil are not willing to buy even one barrel more from Iran,” Amir Hossein Zamaninia, Iran’s deputy oil minister for trade and international affairs, was quoted as saying by the Oil Ministry’s news agency SHANA.

However, without giving details, Zamaninia said: “Despite U.S. pressures on the Iranian oil market, the number of potential buyers of Iranian oil has significantly increased due to a competitive market, greed and pursuit of more profit.”

Washington seeks to bring Iranian oil exports to zero in order to curb Tehran’s missile and nuclear programs and counter its growing military and political influence in the Middle East.

Iran has urged European countries, which are still committed to the nuclear deal, to oppose the sanctions by creating a financial mechanism that facilitates payments of Iranian oil sales.