Deadline for Total to Get US Sanctions Exemption

Iran’s Oil Minister Bijan Namdar Zanganeh said on Wednesday French oil major Total has two months to seek exemption from US sanctions after Washington’s withdrawal from the international nuclear deal.
“Failure to secure an exemption would mean China’s CNPC will replace Total on the South Pars gas project”, Oil Ministry’s news portal quoted Zanganeh as saying. The minister added that an agreement with Europe would inspire other potential buyers of Iranian oil.
“Europe is buying only one-third of Iranian oil, but an agreement with Europe is important to guarantee our sales and find insurance for the ships ferrying the crude. Other buyers would also be inspired by this,” he said.