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Iranian government to review comments of heads of powers

Business Materials 19 August 2020 12:42 (UTC +04:00)
Iranian government to review comments of heads of powers

TEHRAN, Iran, Aug.19

Trend:

Iranian government is to review the comments of heads of two powers about the presale of crude oil, said Presidential Chief of Staff Mahmoud Vaezi, Trend reports citing IRNA.

"Meetings of the Supreme Economic Coordination Council are to be held and experts will provide their comments on the issue," he said adding the presale of crude oil plan is different from sale of oil bonds at Iran Energy Exchange (IRENEX).

"The initiative on presale of crude oil at energy exchange is different from crude oil sale plan that was discussed by the Supreme Economic Coordination Council," Vaezi said.

"The new government plan to sell crude oil in rials at domestic market is a different case; operations on the presale of crude oil in form of oil bonds at energy exchange was carried out in recent years, so implementation of the plan does not require approval of the Supreme Economic Coordination Council," he noted.

Iranian MPs have opposed the oil ministry's plan to presale crude oil at energy exchange in form of oil bonds. Iranian government decided to offer oil bonds at Iran Energy Exchange after decline of oil sale revenue.

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