Iran says oil producers led Trump into ‘trap’

7/15/2018 10:41:00 PM

Tehran (KNA) - Iran says US President Donald Trump’s anticipation that certain oil producers can fill the market gap created as a result of cutting off Iranian supplies is based on a “miscalculation” and that he had fallen into a trap that the same producers had created.

Hossein Kazempour Ardebili, Iran’s representative to the Organization of the Petroleum Exporting Countries (OPEC), was quoted by media as saying that Trump’s decision to sanction Iran’s oil sales to international markets could translate into serious “repercussions”. Kazempour Ardebili added that the whole global economy would eventually suffer if the flow of Iran’s oil supplies to world markets would be stopped.

He further expressed doubt if other producers would really have the ability to compensate for missing Iranian barrels once the sanctions against Iran’s oil sales would be put into force. "Saudi Arabia, the UAE and Russia pretended to be able to deliver 2.5 million barrels a day of Iranian exports,” Kazempour Ardebili was quoted as saying by Bloomberg.

“That was a miscalculation, Mr. President: you have fallen in their trap, and prices will go up," he was quoted as addressing President Trump.

The US administration is pressing Saudi Arabia and some other OPEC members to fill in any supply gap that will arise when US sanctions curtail Iranian crude exports, Bloomberg added in its report.

Source: PressTV

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