Iran able to sell as much oil as it needs despite US pressure: Vice President

Wednesday, 7 November 2018 00:00 - - {{hitsCtrl.values.hits}}

Geneva (Reuters): Iran has been able to sell as much oil as it needs despite US pressure, Iranian Vice President Eshaq Jahangiri was quoted as saying on Tuesday.

The United States on Monday restored sanctions targeting Iran’s oil, banking and transport sectors and threatened more action to stop what Washington called its “outlaw” policies, steps Tehran called economic warfare and vowed to defy.

The measures are part of a wider effort by US President Donald Trump to curb Tehran’s missile and nuclear programs and diminish the Islamic Republics influence in the Middle East, notably its support for proxies in Syria, Yemen and Lebanon.

Trumps moves target Iran’s main source of revenue - its oil exports - as well as its financial sector, essentially making 50 Iranian banks and their subsidiaries off limits to foreign banks on pain of losing access to the US financial system.

“The Americans constantly said they would reduce the sale of Iran’s oil to zero but I have to say that so far, we have been able to sell our required amounts of oil,” the Tasnim news agency quoted Jahangiri as saying.

“The Americans, with the help of propaganda, don’t see the realities.” Jahangiri said he had spoken to a handful of managers from companies on the US sanctions list and that some had already formulated plans on how to deal with the measures.

Jahangiri also said officials should be open with the Iranian public about the difficulties that may lie ahead, according to the Islamic Republic News Agency (IRNA).