Tehran, Iran, Oct. 23
Trend:
Iranian Oil Minister Bijan Zangeneh said there would be no replacement for Iran’s oil in the global market, adding that the country’s crude export cannot be stopped.
The global oil market will continue to suffer from ups and downs as long as the US seeks to target Iran’s oil industry with sanctions, Zangeneh told Tasnim on October 23.
He added that the world would see a relative calm market only when the sanctions are lifted off.
The minister said claims by US officials to cut Iran’s oil exports to zero are “political bluff”, stressing that the country’s crude exports are unstoppable.
Back in May, US President Donald Trump pulled his country out of the 2015 Iran nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA), despite objections from other signatories of the accord.
In August, Washington re-imposed the first round of anti-Iran sanctions it had lifted under the JCPOA. A second round, forthcoming on November 4, will be targeting Iran's energy sector and financial transactions.