Iranian official: US excludes 8 companies from sanctions list

Business Materials 6 November 2018 17:05 (UTC +04:00)

Baku, Azerbaijan, Nov. 6

By Elnur Baghishov - Trend:

The US announced that it provided three months to investigate the consequences of its financial and banking embargo against Iran, and six months for the oil embargo – a period during which global oil refineries would stop buying Iranian oil and select alternative oil supplies from other countries, said Assadollah Gharakhani, spokesman for the Iranian Parliament Energy Committee, ISNA reported.

In order to achieve this purpose, the US president, the US treasury secretary and members of the US Congress took a number of steps to ensure that the world countries don’t buy oil from Iran, he noted.

He said that OPEC and non-OPEC countries will increase oil production as an alternative to Iranian oil. All this happened, but in the end, the US excluded eight countries from the sanction list against Iran, he noted.

These events created two opportunities for Iran, he said.

The first opportunity was the activation of Iran’s private sector and the putting oil for sale through the stock exchange, he noted.

The second opportunity is that the European and Asian countries are looking for financial mechanisms as alternative to the SWIFT system, he said.

They are trying to choose the euro as an alternative currency and weaken the US dollar, he added.

“In the future, other countries may also be exempted from the ban on buying Iranian oil,” he said.