Austrian Firm Ready to Resume Oil Import

Austrian Firm Ready to Resume Oil ImportAustrian Firm Ready to Resume Oil Import

An Austrian oil company said it is ready to resume the import of Iranian oil upon the lifting of sanctions.

"We hope the grounds will be prepared to resume crude imports from Iran once the sanctions are lifted," Rudi Roth, managing director of the ROTH Oil Group told Shana on Sunday.

"ROTH wants to supply Iran's oil to major refineries across Europe."

The Austrian firm has built small-scale refineries to produce biodiesel and is now building one of the continent's biggest biodiesel refineries.

Biodiesel is a renewable fuel that can be produced from vegetable oils, animal fats or recycled restaurant grease for use in diesel vehicles. The fuel's physical properties are similar to those of petroleum diesel fuel, but significantly cleaner.

Roth said he was positive that the two countries can boost relations to the pre-sanctions level.

Iran and six world powers reached a historic deal on July 14 in Vienna, Austria, that would limit the Persian Gulf country’s nuclear program in return for removing sanctions on its energy and financial industries.

The Austrian firm's announcement came as the country's President Heinz Fischer, along with a high-ranking delegation of some 200 businessmen, visited Tehran last week to explore expansion of economic and energy ties.