There are a variety of options to respond to US pressure tactics aimed at cutting off the country’s oil revenue, says a senior diplomat.
“If Iran cannot export its crude oil, it will obviously not sit idle and watch others export their oil. If we cannot continue our exports, others will not be able to do so either. Iran has many options to pick and choose,” Deputy Foreign Minister Abbas Araqchi told Iran’s Arabic-language TV channel Al-Alam, ISNA reported.
He did not elaborate on the possible steps Tehran would take if necessary to dampen the illegal US economic sanctions but said blocking the Strait of Hormuz, a vital shipping lane for international oil supplies, is not the only option.
Effective Mechanisms
“I hope we will not come to a point where these [words] will be put into action. I think the international community, US allies and particularly the Europeans, China, Russia and India do not want the situation to reach that point. That is why they are negotiating with us to meet Iran’s expectations,” Araqchi said.
Iran’s main demand in the negotiations with the remaining participants in the nuclear agreement is that practical mechanisms be devised so that it can export its oil and get paid for it, he noted.
Time Frame
Iran is still waiting for the five signatories to the nuclear deal to offer concrete solutions that would facilitate the implementation of their commitments enshrined in the landmark agreement related to oil, gas, insurance and banking sectors.
On the deadline given to Europe, he said, “The [first] deadline is August 6 when the first batch of sanctions will be imposed on Iran, so practical mechanisms have to be worked out before that date to meet Iran’s demands.”
The next deadline is in November.
Some US sanctions take effect after a 90-day wind-down period ending on August 6, and the rest, most notably on the petroleum sector, after a 180-day wind-down period ending on November 4.
