Sun, Jan 06, 2019 - Page 16 News List

Iran says it has found ‘potential’ oil buyers

Reuters, LONDON

All countries that were granted a waiver from the US to continue buying a certain amount of Iranian oil imports are complying with US sanctions, a senior Iranian energy official said yesterday.

The US withdrew from a nuclear deal with Iran last year and snapped sanctions in place to choke Iran’s oil and banking industries, while temporarily allowing eight customers to keep buying crude from the Islamic republic.

“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,” Iranian Deputy Oil Minister for Commerce and International Affairs Amir Hossein Zamaninia was quoted as saying by the Ministry of Petroleum’s news agency 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 to curb Tehran’s missile and nuclear programs, and counter its growing military and political influence.

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.

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