• More Intl. clients willing to buy Iran's oil: Lawmaker

With a new change to its oil exports pattern, Iran has managed to sell about one million barrels of light oil to international clients over the past 20 days, said Head of Iranian Parliament’s Economic Commission Mohammad-Reza Pour-Ebrahimi.

According to Press TV, the lawmaker added a growing number of foreign clients are expressing their preparedness to purchase Iran’s oil being offered through its Energy Bourse in a policy meant to dodge US sanctions and sell the strategic fuel to direct buyers. 

Pour-Ebrahimi said the US sanctions badly impact Iran’s economy only by 20 percent, adding Washington is left isolated in its efforts to attain an international consensus on re-imposing its sanctions on the Islamic Republic.

“Though we should not totally rely on the European states, today, we witness that they are explicitly objecting to the US decision to re-impose its sanctions on Iran,” he noted.

According to the head of Iranian Parliament’s Economic Commission, Iran has managed to reduce its reliance on oil by about 40 percent over the past four decades.

The administration of US President Donald Trump launched the second wave of sanctions against Iran from November 5 in which a universal ban on the country’s oil exports is a primary objective.

US officials have already said the sanctions would be meant to bring down Iran’s oil exports to zero. However, Iranian officials have repeatedly rejected the feasibility of this, stressing that international consumers cannot afford to lose Iranian supplies.

 ME

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Nov 16, 2018 05:41 UTC
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