Iranian Petroleum Minister Says US Sanctions Caused Iran's Oil Industry to Fall Behind
The pressure of US sanctions on the Iranian economy has resulted in a decline in the oil sector, but the country is trying to resist it, Iranian Petroleum Minister Bijan Zanganeh said on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 08th October, 2019) The pressure of US sanctions on the Iranian economy has resulted in a decline in the oil sector, but the country is trying to resist it, Iranian Petroleum Minister Bijan Zanganeh said on Tuesday.
"The Iranian oil industry is hit every few years, and the sanctions caused it.
It led to the retreat of the country's oil industry from its global position, but we will resist," Zanganeh was quoted as saying by the Mehr news agency.
The United States has ratcheted up sanctions on Iran since last year as part of its "maximum pressure" campaign, targeting the pillars of the Iranian economy. In late September, Washington imposed another round of sanctions on Iran, including on the Central Bank, following attacks on Saudi oil facilities, for which the United States pins the blame on Iran. However, Tehran has repeatedly refuted these accusations.