News ID: 236885
Published: 0209 GMT January 05, 2019

Iran says finds new 'potential' oil buyers despite US sanctions

Iran says finds new 'potential' oil buyers despite US sanctions

All countries that were granted waivers from the United States to continue buying a certain amount of Iranian oil imports are complying with US sanctions, a senior Iranian energy official said, noting that Tehran was hopeful to find new buyers.

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

“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,” said Amir Hossein Zamaninia, Iran’s deputy oil minister for trade and international affairs, according to SHANA.

However, without giving details, Zamaninia said, “Despite US pressures on 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.”

The 180-day exemptions were also granted to Italy, Greece, Taiwan and Turkey.

Washington seeks to bring Iranian oil exports to zero in order to curb Tehran’s missile and nuclear programs.

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.

Zamaninia said the mechanism, known as SPV (special purpose vehicle), would be “helpful but could not resolve the problems”.

"What I can say is that the Oil Ministry has been mobilized to counter the sanctions. The sale of oil is now the most important priority so that Iran’s markets share, which had been hardly secured after the nuclear deal, will be preserved,” he said.

 

   
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