US sanctions on Iran's oil industry are not just a measure of applying political pressure on Tehran, but are also a means of opening up the world oil market to US shale oil, Iran's Oil Minister Bijan Zangeneh said on Monday
MOSCOW (Pakistan Point News / Sputnik - 16th December, 2019) US sanctions on Iran's oil industry are not just a measure of applying political pressure on Tehran, but are also a means of opening up the world oil market to US shale oil, Iran's Oil Minister Bijan Zangeneh said on Monday."I am certain one of the reasons for the #US to impose sanctions on Iran has been to make room for its #shale_oil in the market; therefore, the sanctions issue is not merely a political matter, but rather an economic one," Zangeneh is quoted as saying in a tweet posted by Iran's Oil Ministry.
Washington has continued to apply economic sanctions on Tehran, following the United States' withdrawal from the Joint Comprehensive Plan of Action. Sanctions have focused on Iran's oil and metal industries, as well as financial and banking sectors.
In October, Zangeneh told Sputnik that Iran's oil and gas exports will continue to grow, despite US sanctions, to $25 billion over the next two years and $37 billion within the next 6-7 years.
