Friday, 20 July, 2018

Rouhani says United States unaware about consequences of Iran oil ban

Despite impact on prices, U.S. will aim to bring Iran's oil revenue to zero Hassan Rouhani calls Trump plan to end Iranian oil exports 'a baseless fantasy'
Jay Anderson | 05 July, 2018, 02:30

However, when asked whether he meant to make a threat, Rouhani declined to provide a clarification.

Iranian officials in the past have threatened to block the Strait of Hormuz, a major oil shipping route, in retaliation for any hostile United States action against Iran.

"It seems they do not understand what they are saying when they say Iran will not be allowed to export even a single drop of oil, " Rouhani said in remarks aired by Iranian state television.

"Insofar as it is possible for Iran, we shall remain party to the accord, we shall not quit the JCPOA (the Joint Comprehensive Plan of Action) on condition that we can also benefit from it", Rouhani said. "The United States will never be able to cut Iran's oil revenues".

The withdrawal has paved the way for new United States sanctions against Tehran and foreign companies that trade or invest with it, causing several major businesses, including in Austria, to stop activity in the country. "But history will judge other nations based on what they do today", he said.

TRT World spoke to Sami Hamdi on the possible impact of an Iranian oil imports ban.

A day earlier, Rouhani had issued similar comments, saying Iran could disrupt regional exports if it stopped from exporting oil after US President Donald Trump in May pulled outfrom a nuclear deal signed with world powers and the European Union.

Hanegbi's remarks came before senior diplomats from Iran, Britain, China, France, Germany and Russian Federation meet in Vienna on Friday, aiming to safeguard a pact reached in 2015.




"We heard very clearly what Nikki Haley said and we are in no doubt the USA will use pressure, not just on us around the world".

The EU, which still supports the Iran nuclear accord, sought to shield European companies from U.S. sanctions, but the companies that actually buy Iranian oil are already limiting their purchases for fear of falling afoul of the U.S. Treasury.

Iranian Foreign Minister Mohammad Javad Zarif suggested the arrests, which were announced as he and President Hassan Rohani began the trip, were a "false flag" operation.

Saudi energy minister Khalid al-Falih called his Russian counterpart Alexander Novak to discuss the recent OPEC deal, according to a report Tuesday by the state-run Saudi Press Agency. "We don't keep it [to] ourselves", he said.

The administration's tough new stance on Iranian exports, which goes far beyond what the Obama administration demanded and what most market experts were expecting, suggests that Russian Federation and Saudi Arabia have agreed to make up whatever Iranian production is taken out of the market, Vakhshouri said.

The Iranian leader added that Iran will outlast the current American administration.

But so far it has proven hard to offset the impact of continued USA sanctions, with European firms reluctant to risk far-reaching US financial penalties to do business in Iran.

When asked at a news conference in Bern later on Tuesday whether those comments constituted a threat to interfere with the shipping of neighbouring countries, Rouhani said, "Assuming that Iran could become the only oil producer unable to export its oil is a wrong assumption ..."

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