July 8, 2018 / 03:38 PM
Iran denies big change in oil exports

Iran’s Petroleum Minister Bijan Zanganeh says there has been no major change in the country’s production and export of crude oil despite recent threats by US President Donald Trump to halt the oil trade activities of the Islamic Republic. 

Iran had already devised a plan to counter Trump’s threats, and that the plan was working successfully, Press TV quoted the minister as saying.

He further said the anti-Iran efforts by the US president were largely to blame for the high oil prices in international markets. The Iranian minister also criticized Trump’s pressure on Saudi Arabia to increase its supplies and said such efforts would destabilize markets.

Zanganeh said that exerting pressure as such was against the principles of the Organization of the Petroleum Exporting Countries (OPEC) in which both Saudi Arabia and Iran are founding members.

He added that OPEC principles would never allow political pressures to change the directions of the market. This, the Iranian minister warned, would only disrupt the market by increasing concerns among producing countries that would see their sovereignty threatened as a result of the US pressure.

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