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Iran Has Found New Oil Customers: VP Jahangiri

Iran Has Found New Oil Customers: VP JahangiriIran Has Found New Oil Customers: VP Jahangiri

New customers have been introduced for buying oil despite the fact that some former clients have stopped imports from Iran, Vice President Eshaq Jahangiri said on Sunday.

“America will definitely not be able to reduce Iran’s oil exports to zero,” Jahangiri said, Shana reported.

The vice president played down the impact of the planned US restrictions expected to start from early next month.

“America thinks the Saudis can replace Iranian oil. Nonetheless, right now Iran’s oil price has reached $80 and even with half the previous volume of exports we will have the same income as before.”

There are different ways to sell crude oil, the senior aide to President Hassan Rouhani said, and noted that many private domestic firms have expressed readiness to play a key role. Talks are also underway with traditional customers to find practical solutions to continue doing business.

"Crude is a strategic product and most industries all over the world are heavily dependent on it," he said, noting that companies and states that halted importing Iranian oil are now contemplating new ways to buy from Iran indirectly. 

US President Donald Trump and his administration have called on all buyers of Iranian oil to cut imports to zero.

Last week, oil prices hit a four-year high with the international benchmark Brent topping $85 a barrel.

The United States reimposed sanctions on Tehran following Trump’s unilateral withdrawal in May from the historic nuclear deal.

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