Iranian Oil Minister Begin Zanganeh said Iran will use all possible means to export its oil, adding that exporting oil is a legitimate right of the state.
Iran will use “all possible means” to export its oil
The minister said in remarks carried by his ministry’s website on Sunday that:
Tehran will not yield to US pressure because the export of oil is a legitimate right of Iran.
Zanganeh’s remarks came days after US Secretary of State Mike Pompeo accused Iran of
- Breaking its promise not to deliver the shipment of oil carried by the Iranian oil tanker “Adrian Daria” to Syria. Pointing out that the international community should hold Tehran accountable for this step.
Iran’s crude oil exports shrunk
It shrunk by over 80 percent after the United States reimposed sanctions. After US President Donald Trump withdrew last year from the 2015 nuclear deal between Iran and world powers.
What is the impact of China’s withdrawal from the development of Iran’s most important gas field?
Iran’s economic frustrations continue one after the other, with the US tightening the grip on sanctions. The latest shock being the withdrawal of the Chinese state oil company from the deal to develop the South Pars field. Which provides most of Iran’s natural gas.
The French company, Total
It also withdrew from the deal in May 2018, because of US sanctions. The initial plan to develop the field included drilling 20 wells and a wellhead platform. Which brings the project’s production capacity to 2 billion cubic feet of natural gas per day.
Iran is unable to process and develop its oil and gas infrastructure, according to energy economist Emad Rimal.
Crisis in an already crisis economy
The Chinese withdrawal from the development of the South Pars field, to make matters worse.
The production of oil and gas may be affected
Iran’s economy suffocated mainly under the weight of corruption and theft of the wealth of the people from its officials as well as US sanctions.
After withdrawing from the nuclear deal on May 8, 2018, the United States imposed sanctions on Iran. As well as, prevented it from selling its oil abroad, paralyzing the country’s economy.
Eventually, In late September, Washington imposed sanctions on Chinese shipping companies, which it said were transporting Iranian crude oil.