News ID: 167153
Published: 0643 GMT August 19, 2016

Iran: No oil money blocked abroad after nuclear deal

Iran: No oil money blocked abroad after nuclear deal

Iran has received all its payments for oil sales in the post-sanctions era and no oil money has been blocked in foreign banks since the nuclear deal, said deputy oil minister.

"Currently, Europe is paying for its oil purchases in full and if the sale is conducted via international brokers, we receive the money as advance payment prior to the delivery of the cargo," Ali Kardor was quoted as saying by Mehr News Agency.

The official pointed to Iran's oil deals with India, saying it, too, has paid Iran in full since the sanctions were lifted.

He, however, noted that India is yet to change the currency in which it pays Iran and is still settling oil debts to Iran in rupees.

Iran has not given any concessions to buyers since the market will be quickly informed and prices will be affected, he stated.

He also criticized Saudi Arabia for trying to take Iran's oil markets.

"Our rival, Saudi Arabia, identifies our markets and then quickly starts talks with new oil buyers to gain a foothold in that market by offering special discounts," Kardor said.

"That is why we cannot yet reveal the names of our oil customers, particularly those in Europe. This is an inimical competition and the stances of Saudi are a threat to us," he concluded.

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