Iran Claims It Identified New ‘Potential’ Oil Buyers Amidst US Sanctions

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Iran is on the hunt for new buyers for its oil after all of the nations that were granted waivers from the United States of America to continue importing have instead complied with the sanctions imposed.

Last year, the United States withdrew from a nuclear deal with Iran and imposed some sanctions on the oil and banking industry of Iran, however, it allowed eight countries, including India, China, South Korea, and Japan to continue importing oil from Iran.

Reuters reported that the deputy oil minister for trade and international affairs of the country said that none of the countries that were granted waivers have continued to buy its oil.

Oil Ministry’s news agency SHANA quoted the  deputy oil minister for trade and international affairs of Iran, Amir Hossein Zamaninia, as saying: “China, India, Japan, South Korea and other countries that were granted waivers from America to import Iranian oil are not willing to buy even one barrel more from Iran.”

Without giving further information, however, Zamaninia stated: “Despite US pressures on the Iranian oil market, the number of potential buyers of Iranian oil has significantly increased due to a competitive market, greed and pursuit of more profit.”

The United States also granted the 180-day exemptions to Greece, Italy, Turkey, and Taiwan.

Washington ai aiming to bring oil exports from Iran to zero in order to restrict the missile and nuclear programmes of Tehran and counter its growing military and political influence in the Middle East.

Iran has called on the European countries, which are still committed to the nuclear deal, to oppose the sanctions imposed by the United States by introducing a financial mechanism that facilitates the payments of Iranian oil sales.

Zamaninia said that the mechanism is known as SPV (Special Purpose Vehicle for trade). He said that it would be “helpful but could not resolve the problems since U.S. influence will affect any European action.”

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