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Iran Oil Exports Better after November Sanctions: Rouhani

Iranian President Hassan Rouhani said the country’s oil exports had improved by degrees following imposition of sanctions by the US on November 4.

Iran Oil Exports Better after November Sanctions: Rouhani
(Monday, December 17, 2018) 08:11
“The US had targeted our oil exports; I want to frankly announce to our people that our oil exports have improved since November 4; OPEC’s report has also been promising,” Dr. Rouhani said in a statement broadcast live on state TV on Tuesday.

“Following November 4, the Americans expected to witness an anomaly in Iran’s economy, but the people and all economic activists acted such that everything turned out to be the opposite,” he added.

The United States imposed sanctions on Iran’s oil industry in early November and US officials have repeatedly said they want to reduce Iran’s oil exports to zero.

In May, US President Donald Trump pulled out of an international agreement on Iran’s nuclear program, also known as the Joint Comprehensive Plan of Action (JCPOA).

The United States was also unsuccessful in preventing OPEC from cutting production, Rouhani said.

OPEC and its Russia-led allies agreed last week to cut oil production by roughly 1.2 mbd despite pressure from Trump to reduce the price of crude.

“The Americans were unsuccessful in this OPEC meeting and the Islamic Republic of Iran, fortunately, had some good successes,” Mr. Rouhani said.
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