For Free Headlines Submit Your Email
Friday, April 26, 2024 8:6 GMT
Iranian President Ebrahim Raisi confirmed that the country's oil exports has come closer to the figures prior to the re-imposition of the US sanctions. Raisi made the remarks in a meeting with deans of universities in Iran on Saturday night."The enemy had explicitly announced that it would try to reduce Iran's oil sales to zero. But today, Iran’s oil export has been reaching the statistics prior to the 2018 sanctions," the president declared. "The foes had tried a lot to stop the country's scientific, industrial, production and service activities in the country and cut Iran's connection with other countries but their plots were doomed to failure," he noted."When the enemy’s desperate attempts at hampering Iran’s progress or cutting its ties with other nations were practically frustrated, it began to hatch plots and take obstructive measures against Tehran," Raisi continued.Iran has repeatedly announced it is selling its crude oil despite US sanctions and the revenues are returned to the country. Back in July, the Iranian Oil Ministry announced the country’s increased crude sales and prices last year helped the government cut the budget deficit and manage fluctuations in the foreign exchange market despite the US sanctions.“Thanks to years of experience and expertise and also unique logistic potentials, Iran is present in traditional markets and meets the needs of its old customers, and at the same time is capable of being present in any geographic region of the global oil market,” the ministry said.“Moreover, the increase in oil and condensate sales, along with the price hike in the last few months, has cut the heavy budget deficit of the (Iranian fiscal) year 2022-2023 and has given the government the leverage to manage the fluctuation in the foreign exchange market,” it added. “Iran’s oil marketing strategy in the recent period has been active marketing. During this period, in addition to maintaining its share in the old markets, Iran has entered (new) markets that were previously unthinkable under the intensified restrictions,” the oil ministry clarified.Iranian Oil Minister Javad Owji has also confirmed in mid-May Tehran was selling crude at a good price, adding that new markets have been found for exports. Iran has its own customers in the oil market and continues selling oil at a good price, Owji continued, stating new markets have been identified.Analysts believe US President Joe Biden and his Democratic Party will pay a political price in the midterm congressional election if they fail to remove Anti-Tehran sanctions and do not allow more Iranian crude to enter the international markets. They say the Europeans feel a strong need for an agreement with Iran in the Vienna talks as they are in need of the country's oil and gas due to Ukraine-Russia war, adding that Europe is paying the price for Washington policies. - Fars