Iran’s oil minister Mohsen Paknejad acknowledged that the activation of snapback sanctions could impose restrictions on oil sales, but emphasized that the country is not helpless in the face of these challenges.
Talking to Isna, Paknejad emphasized that Iran’s oil industry has gained valuable experience in bypassing restrictions and maintaining oil sales in recent years. He added that the provincial specialist team is ready to plan and adapt to ensure continued exports under various sanctions conditions.
Addressing the potential impact of snapback measures on Iran’s oil market, he said: “Snapbacks can change conditions in ways that require new strategies, but they are not hand-bound by these restrictions and will make every effort to counter them.”
Paknejad said in production figures that over the past year, Iran has added an average of 127,000 barrels per day to its crude oil production capacity.
Referring to the goals of the 7th Development Plan, he said the aim is to reach Iran’s crude oil capacity at around 4.58 million barrels per day.
MNA/ISN1404060704187