Oil Minister Bijan Namdar Zanganeh says his ministry is ready to issue licenses for constructing small oil refineries in the border regions.
"Building refining centers with a maximum 100,000 barrels per day capacity near the borders can help the country expand economic ties to neighbors and also circumvent the unilateral US sanctions," Zanganeh was quoted as saying by ISNA.
Iran's oil industry is largely state-owned and usually tangled with political issues and that is why sanctions can easily undermine this key sector, the minister said.
Washington withdrew from the international Iran nuclear deal in May 2018, after President Donald Trump abandoned the historic agreement and imposed tough new economic sanctions.
June 17, 2019 16:41
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Minister Floats Idea of Building Small Oil Refineries in Border Areas
Independent energy experts and state officials say strengthening bonds with the international community, especially neighbors, has big benefits because “the more they depend on each other the less they will be harmed in critical situations.”
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