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OIL: Iran Vows Oil Exports 'not stoppable' after US sanctions oil minister: P

OIL
Energy BulletsIranBulletMiddle EastCommodities

Iran vowed to maintain its oil exports and market share on March 15, despite US sanctions on its oil minister, Platts reported.

  • Oil exports are "not stoppable," said government spokeswoman Fatemeh Mohajerani on X.
  • "We will not back down on Iran's share in the global oil market."
  • Sanctions on Mohsen Paknejad were imposed "rashly and impetuously," she added.
  • The US Treasury designated Paknejad for overseeing the allocation of 200k b/d of crude oil to Iran's armed forces.
  • Future volumes could surpass 500k b/d, according to budget estimates.
  • Sanctions have not hindered Iran's crude production, which was 3.23m b/d in February, Platts said, with production holding above 3m b/d since Sep. 2023.
  • When Trump withdrew from the Iran nuclear deal, production dropped to 1.95m b/d in August 2020.
  • The US also sanctioned three vessels involved in ship-to-ship transfers to disguise Iran's oil trade.
  • Iran is pursuing diplomatic channels to resolve nuclear program disputes.
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Iran vowed to maintain its oil exports and market share on March 15, despite US sanctions on its oil minister, Platts reported.

  • Oil exports are "not stoppable," said government spokeswoman Fatemeh Mohajerani on X.
  • "We will not back down on Iran's share in the global oil market."
  • Sanctions on Mohsen Paknejad were imposed "rashly and impetuously," she added.
  • The US Treasury designated Paknejad for overseeing the allocation of 200k b/d of crude oil to Iran's armed forces.
  • Future volumes could surpass 500k b/d, according to budget estimates.
  • Sanctions have not hindered Iran's crude production, which was 3.23m b/d in February, Platts said, with production holding above 3m b/d since Sep. 2023.
  • When Trump withdrew from the Iran nuclear deal, production dropped to 1.95m b/d in August 2020.
  • The US also sanctioned three vessels involved in ship-to-ship transfers to disguise Iran's oil trade.
  • Iran is pursuing diplomatic channels to resolve nuclear program disputes.