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Wed, Sep 26, 2018 | Last Updated 4:06 am IST

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US efforts to ban Iran's oil exports will be futile

US efforts to ban Iran's oil exports will be futile
US efforts to ban Iran's oil exports will be futile
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

Tehran sources reported that an Iranian oil official said on Wednesday that it is not an easy task to block the country's crude from the global market. Presently some European companies, such as Shell and Total, have stopped buying Iranian oil over the past few weeks and Iran is still exporting oil to Europe, Asia and elsewhere in the world.



The officials at the Iranian Petroleum Ministry said a day earlier, a senior US State Department official said told the US has been pushing its allies to stop oil imports from Iran by November 4. The Iranian official said "This big claim (of cutting Iran oil supply) is not feasible. Last month, Iran exported 2.8 million barrels of crude oil and condensate per day".

US efforts to ban Iran

The official added "Removing this from the global market in a few months is not possible”. Moreover he noted "Iran is prepared for the worst case scenarios" in case the US pressures take effect. Furthermore there is no surplus capacity for countries such as Saudi Arabia and the United Arab Emirates to supply oil for a long term". Moreover Washington vowed to re-impose sanctions against Iran and inflict punishments including secondary sanctions on countries that have business links with the Islamic republic.

US efforts to ban Iran

US efforts to ban Iran's oil exports will be futile
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