Dec 13, 2019 06:50 UTC
  • Iran inventing new mechanisms to circumvent US oil sanctions: Official

A senior Iranian official has said that the government has come up with new initiatives to circumvent the oil sanctions imposed by the United States.

According to Press TV, Hamid Pourmohammadi, the Second in Command of Iran’s Plan and Budgeting Organization, said on Thursday that the government would manage to sell up to one million barrels per day (bpd) of crude in the next Iranian calendar year starting late March based on targets defined in a budget bill presented to the parliament last week.

“The announcement for export of 1 million bpd of oil for the next year is a realistic figure,” Pourmohammadi said while responding to a question by Iran’s Mehr news agency about the feasibility of government plans for oil exports in the face of growing US pressure on the industry.

The official said the target defined for the sale of oil was based on Iran’s ability to devise mechanisms that would circumvent the American sanctions.

The US continues to impose harsh penalties on countries buying Iran’s oil through normal mechanisms while Washington uses every channel to obtain intelligence and information that could expose Iran’s efforts to circumvent the sanctions and deliver its crude to major customers.

Pourmohammadi said the United States would fail to spot and identify Iran’s tricks for getting round the sanctions.

“It’s correct that the enemies have become familiar with (our) previous methods of circumventing sanctions,” he said, adding, “But as soon as they would know of our new methods, we would have attained our goal.”

The Iranian government on Sunday presented an annual budget bill to the parliament which many believe is largely free of financing mechanisms that normally rely on oil exports.

The target of 1 mln bpd for the next year budget is significantly lower than figures seen in similar budget laws adopted for years that span 2016 and 2017 when Iran sold more than 2.5 million bpd.

ME

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