Iran's oil minister hit out on Wednesday against the use of oil sanctions &...
GENEVA - Iran’s oil minister hit out on Wednesday against the use of oil sanctions “as a weapon” by the United States and the damage it was doing to OPEC, according to SHANA, the news outlet of the OPEC member’s oil ministry.
Another OPEC founding member, Venezuela, is also the subject of U.S. sanctions on its oil exports to bring about political and economic change. Oil markets had tightened this year due to supply cuts led by the Organization of the Petroleum Exporting Countries and the White House said after its Iran move it was working with Saudi Arabia and the United Arab Emirates to ensure oil markets were “adequately supplied”.
Iran is examining new ways to sell its oil, Zanganeh said, according to the Islamic Republic News Agency . He did not provide details.
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