Oil Minister: No Time for Complacency

Contracts worth $1.7 billion have been signed between Iranian oil and services companies to increase production from existing fields, the oil minister said Wednesday.
Referring to the previous agreements worth $830 million, Bijan Namdar Zanganeh said: “The US sanctions notwithstanding, no foreign company wants to cooperate with us. But progress has been made in a variety of oil sectors and good capacities have been created,” the Oil Ministry news agency Shana quoted him as saying.  He did not elaborate.
The US imposed news economic sanctions in August 2018, targeting key industrial sectors, oil, banking and insurance. In the May of that year Donald Trump tore up the landmark 2015 nuclear deal Iran had signed with the six world powers. In November 2018, Washington imposed a failed policy of “maximum pressure” targeting everything that could be hit.