Iran won’t be hand-tied by snapback sanctions

Iran’s Oil Minister Mohsen Paknejad acknowledged that activating snapback sanctions could impose limits on oil sales, but stressed that the country is not powerless in facing these challenges.

Speaking to ISNA, Paknejad highlighted that Iran’s oil industry has gained valuable experience in bypassing restrictions and sustaining oil sales over recent years. He added that the ministry’s specialized team is ready to plan and adapt to ensure continuous exports under various sanction conditions.

Addressing the potential impact of snapback measures on Iran’s oil market, he said: “Snapback could shift conditions in ways that require new strategies, but we are not hand-tied by these limitations and will make every effort to counter them.”

On production figures, Paknejad noted 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 targets of the Seventh Development Plan, he stated that Iran’s crude oil capacity is aimed to reach around 4.58 million barrels per day./mehr