US policy of maximum pressure on Iran failed experiment: min.

TEHRAN, May 14 (MNA) – Iran’s oil minister emphasized the diversification of the country’s crude oil sales portfolio, stating that the policy of maximum pressure is a repetitive slogan by the US and a failed experiment.

News ID: ۲۰۰۱۲۸۹

15 May 2025

EghtesadOnline: Speaking to reporters on Wednesday on the sidelines of a Cabinet meeting, Mohsen Paknejad responded to questions about US maximum pressure policies, noting that necessary plans to neutralize sanctions have been implemented. “Adequate diversification in the country’s crude oil sales portfolio has been achieved, though I will not elaborate on the details,” he said.

When asked about Babak Zanjani’s tweet vowing to intensify efforts to reclaim his seized assets from the National Iranian Oil Company, Paknejad said, “He should be asked about that himself. He certainly has sufficient information, but what is certain is that the judiciary’s ruling is final, and we must comply.”

Regarding the 29th International Oil, Gas, Refining, and Petrochemical Exhibition, the oil minister said the overwhelming turnout demonstrates that Iran can meet the industry’s needs through domestic capabilities.

On the Iran-Russia Joint Economic Cooperation Commission meeting held in Moscow in late April, Paknejad said a series of expert-level meetings took place over several days, culminating in the signing of a final document with Russia’s energy minister. The agreement covers expanded cooperation in oil, gas, transportation, finance, banking, trade, and other fields.

He also denied any plans to raise gasoline prices, explaining that a resolution allows for importing premium gasoline, with the volume and final cost determining pricing. “The matter is under review by the Economy Ministry’s Deregulation and Supervision Board, with final steps underway to begin imports and distribution,” he said.