Iran: It is impossible to stop Iranian oil exports

Iran: It is impossible to stop Iranian oil exports
ID : N-2115 Date : 2018/06/27 - 13:19

(Persia Digest) – An informed source at Iran’s Petroleum Ministry has said that US claims to cut Iran’s oil exports to zero is impossible.

Persia Digest reports that certain western media, quoting a US source at the State Department yesterday, reported that the Administration is working with all European and Asian clients of Iranian oil to cut their imports to zero within the next five months. So far, no countries have announced their consent to join such a plan.

Today, an informed source at the Iranian Petroleum Ministry told Tasnim News Agency: “This huge claim is not possible, because Iran has exported 2.8 million bpd of crude oil and gas condensate this month. This figure is presently an estimated 2.5 bpd. Eliminating this amount of crude oil and condensate from the market is not possible within a short few months.”


Read more: 

► US tells allies cut oil purchases from Iran to zero

► Japan-US talks to avoid effects of Iran sanctions

► US pressurizes India to halt oil imports from Iran


The source added: “Saudi Arabia, the UAE, and other oil producing countries do not have as much oil surplus to compensate for the loss in the long run as the US believes. They may be able to manage oil sales with the help of their US allies by tightening their operations; but compensating for the significant loss of Iranian oil on the global market is not feasible for more than a few months.”

The senior director at the Ministry also reiterated: “Iran is ready for the worst-case scenarios, even those that many never happen, because Iran's oil exports are linked to the supply of currency required by the country.

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