Iran Vows to Sell Oil Despite US Sanctions

EghtesadOnline: Iran’s vice president acknowledged on Tuesday that US sanctions would hurt the economy, but promised to “sell as much oil as we can” and protect banking.

News ID: ۷۴۵۶۱۹

11 July 2018

Es’haq Jahangiri added that Washington was trying to stop Iran’s petrochemical, steel and copper exports.

“America seeks to reduce Iran’s oil sales, our vital source of income, to zero,” he was quoted as saying by Reuters.

“It would be a mistake to think the US economic war against Iran will have no impact.”

According to Financial Tribune, US President Donald Trump in May pulled the United States out of an international accord under which Tehran had agreed to limit its nuclear development in exchange for sanctions relief.

On Tuesday, the US ambassador to Germany also called on Berlin to block an Iranian bid to withdraw large sums of cash from bank accounts in Germany.

Jahangiri said Iran’s Foreign Ministry and the central bank have taken measures to facilitate Iran’s banking operations despite US sanctions. He did not elaborate.

“We think the Europeans will act in a way to meet the Iranian demands, but we should wait and see,” Jahangiri said.

He added that the US pressure on Iran came as the United States launched an “economic war with China and even its allies”, referring to trade tensions between Washington and many of its main trading partners.

Jahangiri also accused Washington of trying to use economic pressure to provoke street protests in Iran.