Iran to adopt maximum crude production policy if US lifts sanctions

Iranian Oil Minister Zanganeh was quoted as saying that Iran to adopt maximum crude production policy if US lifts sanctions. (File photo:Reuters)

Iran will adopt the policy of maximum crude production if the United State lifts sanctions imposed on the country’s oil industry, said Iranian Oil Minister Bijan Zanganeh on Saturday, according to the ministry’s official news website SHANA.

“Maximum production would be the Iranian Ministry of Petroleum’s policy in case (US) sanctions are eased on Iran’s oil industry,” SHANA quoted Zanganeh as saying.

“Our oil industry is alive, it is active. The US sanctions cannot stop Iran’s oil exports,” Zanganeh said.

Since exiting from Iran’s 2015 nuclear deal with powers, US President Donald Trump has re-imposed sanctions on Iran and has introduced other limitations including threats of sanctions against any country importing oil from Iran, which has led to a sharp drop in Iranian oil exports.

On Thursday, President Trump said he believes that Iran’s leadership wants a meeting, adding to expectations that he is trying to arrange a summit with his Iranian counterpart at the upcoming UN assembly.

Last Update: Wednesday, 20 May 2020 KSA 09:56 - GMT 06:56