Iran says oil export drop not expected if EU saves nuclear deal

"Every new decision in OPEC needs unanimity... I believe that the help of the European Union helps us... the level of our oil exports will not change," Zanganeh told reporters after a meeting with EU`s energy chief Miguel Arias Canete.

Iran says oil export drop not expected if EU saves nuclear deal
Iranian Oil Minister Bijan Zanganeh talks to reporters during the 15th International Energy Forum Ministerial (IEF15) in Algiers. Photo: Reuters
Written By: Reuters
Updated: Sat, May 19, 2018
05:58 pm
Tehran , Reuters
RELATED NEWS
Iran says despite U.S. sanctions, it has found new ''potential'' oil buyers: SHANA Iran says despite U.S. sanctions, it has found new ''potential'' oil buyers: SHANA

Iranian Oil Minister Bijan Zanganeh said on Saturday that U.S. President Donald Trump`s decision to quit a multinational nuclear deal would not affect Tehran`s oil exports if the EU could salvage the pact.

"Every new decision in OPEC needs unanimity... I believe that the help of the European Union helps us... the level of our oil exports will not change," Zanganeh told reporters after a meeting with EU`s energy chief Miguel Arias Canete.

Following Trump`s decision on May 8, the U.S. Treasury said Washington would reimpose a wide array of Iran-related sanctions after the expiry of 90- and 180-day wind-down periods, including sanctions aimed at Iran’s oil sector and transactions with its central bank.

The EU wants to salvage the 2015 nuclear deal, which offers the Islamic Republic relief from economic sanctions in exchange for curbs on its nuclear programme. Europe sees the agreement as an important element of international security.
 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.