Iranian official: Country has new buyers of oil

6 December 2018 17:08 (UTC+04:00)

By Abdul Kerimkhanov

Iranian First Vice President Iskhak Jahangiri, speaking of U.S. sanctions on oil exports from Iran, said that Iran had found new buyers and they had already purchased Iranian oil, IRNA reported.

Jahangiri did not disclose who the new buyers of Iranian oil were, but he said that Iran is negotiating to sell more oil to China, Russia and Asian countries.

U.S. threats to different countries, regarding trade with Iran, are dangerous and impossible, Iran’s First Vice-President considers.

“I assure the world that if Iran is deprived of its main source of income, it will not be silent, and will take appropriate measures,” he added.

Jahangiri stressed that despite the U.S. sanctions, Iran can return its oil exports to the level of November 4, when the U.S. imposed the second round of sanctions against Iran.

On November 2, Washington announced that it would grant eight countries permission to buy Iranian oil when imposing sanctions on Tehran from November 5 to 180 days without the possibility of extending this period.

On November 4, 2018, the U.S. re-imposed all remaining secondary sanctions on Iran that were previously lifted under the Joint Comprehensive Plan of Action (JCPOA). This is the final action required to re-impose Iranian sanctions since President Trump's May 8, 2018 announcement of the U.S. withdrawal from the JCPOA. The U.S. initially imposed certain sanctions on August 7, 2018.

These sanctions imposed on Iran's port operators and shipping and shipbuilding sectors, on petroleum-related transactions with the National Iranian Oil Company (NIOC), Naftiran Intertrade Company (NICO), and the Central Bank of Iran, on transactions by foreign financial institutions (FFIs) with the Central Bank of Iran, on the provision of specialized financial messaging services to the CBI and Iranian financial institutions, on the provision of underwriting services, insurance, or reinsurance and on Iran's energy sector.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94 

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