Iranian Oil Minister Mohsen Pakhnejad said Wednesday that Iran has valuable experience in circumventing U.S. sanctions.
“In countering sanctions, we don’t differentiate between (incumbent Joe) Biden and Trump, and we have some proven solutions and valuable experience,” Paknejad told reporters after a Cabinet meeting in Tehran. Considering that, there is no particular concern.” Press TV.
He said Iran plans to maintain oil production and exports and is prepared for possible oil cuts by the new US administration.
According to reports, President Trump and his foreign policy team may decide to take a tougher stance on Iran than the current administration led by Biden.
Official data shows Iran has increased oil production and exports in recent months despite the existing US sanctions regime that imposes harsh penalties on buyers.
Iran’s crude oil production reached 3.259 million barrels per day (bpd) in October, down slightly from the figure reported in September, according to the latest data from the Organization of the Petroleum Exporting Countries (OPEC).
Estimates show the country’s oil exports have averaged 1.5 million barrels per day this year, up from just 300,000 barrels per day in mid-2019, when President Trump imposed sanctions on Iran just two years into his previous term. It was reported that it was a barrel, but it has increased. As President of the United States.
Most of Iranian crude ends up in the hands of private buyers in China, according to data from the International Tanker Tracking Service.
Experts say President Trump’s decision, which could trigger supply restrictions on Iranian oil exports to China, could cause major problems for U.S.-China relations, while also pushing global oil prices to record levels. He points out that there is a possibility of an increase.
SD/
