Skip to main content

Iran expresses concern about Saudi offer to pump more oil to make up gap caused by U.S. sanctions on Tehran

Iran told OPEC on Sunday no member country should be allowed to take over another member’s share of oil exports, expressing Tehran’s concern about Saudi Arabia’s offer to pump more oil in the face of U.S. sanctions on Iranian oil sales.

In a meeting with OPEC Secretary-General Mohammad Barkindo, a senior Iranian diplomat urged him to keep the group out of politics.

“No country is allowed to take over the share of other members for production and exports of oil under any circumstance, and the OPEC Ministerial Conference has not issued any license for such actions,” Iran’s oil ministry news agency SHANA quoted Kazem Gharibabadi, the permanent envoy to Vienna-based international organizations, as saying.

Story continues below advertisement

In May, U.S. President Donald Trump pulled out of an international nuclear deal with Iran and announced sanctions against the OPEC member. Washington is pushing allies to cut imports of Iranian oil to zero and will impose a new round of sanctions on Iranian oil sales in November.

Trump has called on OPEC to pump more oil to bring down prices. Energy ministers of Saudi Arabia, a U.S. ally, and Russia said in May they were prepared to ease output cuts to calm consumer worries about supply.

“Iran believes that OPEC should strongly support its members at this stage and stop the plots of countries trying to politicize this organization,” Gharibabadi said.

Regional rivals Saudi Arabia and Iran are involved in proxy wars, including in Yemen and Syria.

Iran and other signatories of the nuclear deal, including Britain, France, Germany, Russia and China, have been working to find a way to salvage the agreement despite U.S. pressures.

Iran has set a series of conditions for European powers if they want Tehran to stay in the nuclear deal, including steps by European banks to safeguard trade with Tehran and guaranteeing Iranian oil sales.

Iran’s vice president said on Sunday the government was seeking solutions to sell oil and transfer its revenues despite fresh U.S. sanctions.

Story continues below advertisement

In August, Washington imposed sanctions on acquisition of U.S. dollar by Iran, and its trade in gold and precious metals. Washington will reimpose on Nov. 4 sanctions on Iran’s oil exports, and banking sector.

“We are hopeful that the European countries can meet their commitments but even if they cannot, we are seeking solutions to sell our oil and transfer its revenues,” Eshaq Jahangiri was quoted as saying by the state news agency IRNA.

In similar remarks, Iranian foreign minister praised the European signatories for their efforts to salvage the deal, especially for EU’s so-called blocking statute that aims to mitigate the impact of U.S. sanctions for European businesses.

However, Mohammad Javad Zarif said such measures have not been enough.

“The European have so far expressed their stance, but have failed to present an action plan ... We believe the Europe is not ready yet to pay a price,” Zarif was quoted as saying by the Young Journalists Club (YJC) website.

Zarif also tweeted on Sunday that the formation of a new Iran “Action Group” in the U.S. State Department to coordinate Trump’s pressure campaign against Iran aimed to overthrow the Islamic Republic, but it would fail.

Report an error
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • All comments will be reviewed by one or more moderators before being posted to the site. This should only take a few moments.
  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments.

Read our community guidelines here

Discussion loading ...

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.
Cannabis pro newsletter