Iran looking for solutions to sell oil, transfer revenues under US bans: First VP

8/20/2018 8:14:00 AM
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Tehran (KNA) - Iran's First Vice President Es’haq Jahangiri says Tehran is looking for solutions to continue selling its crude oil after the United States re-imposed its sanctions on the country’s energy sector in early November.


Speaking in an interview with IRNA, which was published on Sunday, Jahangiri noted that European countries have told Iran's Foreign Ministry that they will be taking measures before US sanctions come into effect against the country's oil and banking sectors to make up for any possible losses that Tehran may suffer.

The United States has ramped up pressure on Iran after US President Donald Trump withdrew Washington in May from the landmark Iran nuclear agreement, officially known as the Joint Comprehensive Plan of Action (JCPOA) reached between Iran and the P5+1 group of countries in 2015, and decided to re-impose unilateral sanctions against Tehran.

Under the deal, Iran undertook to put limits on its nuclear program in exchange for the removal of nuclear-related sanctions.

In defiance of warnings from the European Union, the JCPOA signatories and many international players, President Trump signed an executive order on August 6 re-imposing a first round of sanctions on Iran, which were lifted under the nuclear deal, to levy "maximum economic pressure" on the Islamic Republic.

Source: Press TV

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