Iran oil minister: No change in production, export

09 Juillet, 2018, 21:08 | Auteur: Auguste Feret
  • Narendra Modi and Donald Trump

Iran's oil minister has hit back at Donald Trump today over his demand for more production, branding the president's orders as an insult to the Organisation of the Petroleum Exporting Countries (Opec).

"The embassy of the Republic of Korea denies any claims that it would not lift any Iranian crude and condensate in July", Xinhua reported on Saturday, after last week Reuters quoted sources as saying Iran's third-largest oil importer had announced it would stop buying crude from it in anticipation of US sanctions against Tehran.

On Wednesday Trump took to Twitter to accuse Opec of "driving prices higher" and insisted there "must be a two way street".

"Mr Trump sends every day a new message that creates uncertainty in the market", Iranian Oil Minister Bijan Zanganeh said in an interview with state television. The Trump administration's initial announcement that the USA expects all Iranian oil imports to stop within just four months roiled markets across the world and set even American allies on edge.

Iran, OPEC's third-largest producer, is facing U.S. sanctions on its oil exports that are prompting some buyers to cut purchases.

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The United States in May said it was walking away from an worldwide deal on Iran's nuclear program, and said it would impose fresh sanctions on Iran's energy sector.

South Korea halted all Iranian oil shipments in July for the first time in six years amid U.S. pressure. China, which has said it will work with France, Russia, the United Kingdom and the European Union to salvage the nuclear deal at crunch talks in Vienna this week, is unlikely under any circumstance to cut its oil imports, given that it's also engaged in looming trade war with the US.

"I have not seen the package personally, but our colleagues in the foreign ministry who have seen it were not happy with its details", Zanganeh was quoted as saying by Tasnim news agency.

Iran has threatened to block oil exports through a key Gulf waterway in retaliation for US efforts to reduce Iranian oil sales to zero.

Zanganeh said Iran's stance on this issue was clear.

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