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Iran to increase oil export despite US sanctions

Iran to increase oil export despite US sanctions
posted onSeptember 3, 2021

Iran has planned to increase its oil exports despite sanctions imposed by the United States on Tehran's crude sales, Iranian Oil Minister Javad Owji said on Wednesday.

"There is strong will in Iran to increase oil exports despite the unjust and illegal U.S. sanctions," Owji told state TV, without elaborating on how Tehran planned to overcome sanctions.

"I promise that good things will happen regarding Iran's oil sales in the coming months."

US imposed strict sanctions on Iran three years ago, targeting its oil exports, which is the country’s main revenue source. Washington abandoned Tehran's 2015 nuclear deal with six powers.

There is no statistic on Iran’s crude export, but assessments based on shipping and other sources suggest a fall from about 2.8 million barrels per day (bpd) in 2018 to as low as 200,000 bpd. One survey put exports at 600,000 bpd in June.

"Iran will return to its pre-sanctions crude production level as soon as US sanctions on Iran are lifted," Owji said.

"We are against using oil as a political tool that would harm the oil market."

Tehran and six world powers have been in talks to revive the nuclear pact, with no clear achievement so far. The next round of talks has yet to be scheduled.