Kazem Vaziri Hamaneh told ILNA news agency; “Selling oil to brokers will mean a rise in the cost of sales and transportation and perhaps discounted prices, which will result in lower revenues, but such a reduction is not a high price to pay for the main issue, which is resistance against force and bullying.”

 

He added that his 40 years of experience in the oil industry allows him to say with certainty that there will be little problem for Iran to export its oil.

 

The former oil minister went on to report that the Iranian government has established a crisis committee to deal with the sanctions and the purchase of equipment and parts.

“During the eight year war (between Iran and Iraq), our production and exportation of crude oil never stopped. Because oil is strategic merchandise and it always has customers. Currently Western countries are trying to put sanctions on Iran oil, but Iran can easily find replacements for clients.” Kazem Vaziri Hamaneh said.

 

“I have 40 years experience in oil industry and I have to say Iran won’t face any problem in selling crude oil to its customers. Also Iran can sell oil through third parties. However these channels will increase the sale cost for Iran but this is not high cost at these conditions.” Vaziri Hamaneh added.

 

Kazem Vaziri Hamaneh is the previous minister of petroleum of Iran. He was the fourth person who was suggested to the Iranian parliament as the candidate for petroleum ministry by Mahmoud Ahmadinejad. The first three were rejected.

 

European sanctions, including a ban on imports of Iranian oil by EU states and measures that make it difficult for other countries to trade with Iran, came into effect on Sunday.

The EU has imposed an oil embargo on Iranian oil, and the United States has announced that it will take punitive measures against countries and companies that buy Iranian oil. 

Bloomberg reported this week that NITC, an oil-tanker company owned by Iranian pension funds, has renamed at least 10 of its ships and is running them under Tanzanian flags, which allows them to evade U.S. and EU sanctions.
 

(Source: eurasiareview)