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Tehran examines ways to circumvent oil sanctions

Tehran examines ways to circumvent oil sanctions

Tehran faced the US sanctions but its government continues to examine how to improve the situation in the oil sector, IRNA reported. Since May 1s, Washington made Iran’s position more vulnerable due to demanding the buyers of Iranian oil stop purchases by May 1 or face sanctions.

The United States is ending six months of waivers that had allowed Iran’s eight biggest customers, most of them in Asia, to import limited volumes. That made Iranian Oil Minister Bijan Zanganeh make the statement that Tehran was mulling new ways to sell its oil to circumvent US sanctions. Minister Zanganeh didn’t stop to criticize US policy to bring the country’s oil exports to zero.

Iran’s President Hassan Rouhani warned the nation that in the coming months, Washington will see that Tehran will continue its oil exports. In a related development, Qatar has spoken out against the White House’s decision to block all exports of Iranian oil.

“Those who use oil as a weapon … are creating the death and collapse of OPEC,” Iranian oil minister added on Wednesday in a speech at an Oil and Gas conference in Tehran.

OPEC will not lose its member Iran, Masoud Karbasian, CEO the National Iranian Oil Company said, the news outlet of the Iranian oil ministry reported.

The US sanction and Iran’s current position was one of the central issues on the recent Oil and Gas conference on Wednesday. The countries of the Middle East region show their support to Iran.

“The sanctions should not be extended because they have an adverse impact on countries benefiting from Iranian oil,” Qatar’s foreign minister Mohammed bin Abdulrahman al-Thani said Wednesday.