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Politicizing Oil, Big US Mistake: Zangeneh

Iranian Minister of Petroleum Bijan Zangeneh said the US had made a big mistake by politicizing oil, saying, “We will exert our maximum effort to break US sanctions.”

Politicizing Oil, Big US Mistake: Zangeneh
(Monday, April 22, 2019) 10:37

Addressing the Iranian parliament on Tuesday, Zangeneh spoke about recent US actions and the oil market status.

He said: “Today, in this aggressive economic war that the United States has launched against Iran, the Iranian nation, the oil industry is at the tip of the outrageous offensive attacks. We must all join hands to pass these grave conditions behind with the help of God.”

“The imagination to bring Iran’s oil exports to zero, with the help of God, will never come true,” he said.

The official said: “The state of supply and demand is fragile in the current oil market, and the statements issued by the United States and its regional supporters to ensure the market in order to prevent rising oil prices, more than anything, betrays their concern for instability and fragility of the market.”

Zangeneh’s comments came only one day after Secretary of State Mike Pompeo announced that the Trump administration would not renew sanctions waivers for importers of Iranian crude oil including Japan, South Korea, Turkey, China and India, when they expire on May 2.

The Trump administration has told the five nations that they will no longer be exempt from U.S. sanctions if they continue to import oil from Iran, officials said Sunday.

Zangeneh added, “The oil market is very unpredictable, and in this fragile situation, it cannot be assured whether oil is being supplied to the market as much as needed, while some countries in the region overstate their surplus oil production capacity in order to provoke the US and put pressure on Iran.”

“I repeat, the United States and its allies have committed a big mistake by politicizing oil and using it as a weapon and the aftermaths of which will be felt by themselves.”

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