Iran's ex-official: talks US' waivers regarding import of Iran's oil

Business Materials 5 November 2018 14:24 (UTC +04:00)

Tehran, Iran, Nov.5


Iranian Oil Ministry's former deputy director for OPEC affairs Reza Modir has explained the recent temporary sanctions exemption by the US.

The United States said on Friday it would temporarily allow eight importers to keep buying Iranian oil after it re-imposed sanctions on the country's crude flows from Monday, aiming to force Iran to curb its nuclear, missile and regional activities.

"In my opinion, these exemptions are more for US market management on the eve of mid-term elections. President Trump wants to send a signal of confidence to US voters,” Reza Modir told Trend.

Modir believes the efforts of the US are aimed at reducing political risks.

“The Trump administration is seeking to galvanize the Republicans, who support his hard-nosed foreign policy in midterm election, otherwise exempting South Korea, which has zeroed its imports from Iran, is nonsense," said Modir.

“Evidence shows that these exemptions are temporary,” said Modir.

He went on to predict that the oil prices will rise in price in the coming months.

Modir believes the mid-term elections and cold winter in the US are raising the demand in the country, which explains the move to allow temporary import of Iran's oil.

“These exemptions can be considered American games,” he said. “The US administration team is not at all in a position to issue full wavers on Iran oil sanctions,” he said.

“Therefore, the United States is trying to manage the domestic market and satisfy its partners and allies like India,” Modir said.

He further spoke about whether the mentioned exemptions would have an impact on the oil market. Modir said that no matter the exemptions, the US will not be able to reduce Iran's oil exports to less than one million barrels a day.