Baku, Azerbaijan, Apr. 10
By Maksim Tsurkov - Trend:
The removal of the West's sanctions from Iran will not affect the oil supply from that country and will not have a negative impact on oil prices, Alexander Sharov, Deputy Head of Iranian Department at Shanghai Cooperation Organization (SCO) Business Club, told Trend on Apr. 10.
He said there is no need to expect [after the lifting of sanctions] a big "splash" of volumes of Iranian oil to the world market.
The expert explained this by the fact that quite depleted fields in Iran are not to increase capacities.
"Therefore, there physically can't be a sharp release of Iranian oil to the market," he said. "And the accumulated oil is more likely to go to Europe."
"The discount for China for the oil purchases will definitely decrease. I assume that Iran will direct additional volumes of oil to Italy, Greece and other European countries, and possibly to the Republic of South Africa," said Sharov.
He said lifting sanctions doesn't mean that Iran will immediately start to develop all the fields and export oil.
The expert said that lifting of the sanctions imposed on Iran will have only one result: the country's assets abroad will be unfrozen. "Regarding the oil supplies, I believe that Iran will gradually increase the supply of this fuel to Europe."
The expert also touched upon the oil prices. "It is a difficult issue. But I think that the prices will rise and the developments in Yemen play an important role in this issue."
The P5+1 and Iran agreed on Apr.2 that the operation of two-thirds of Iranian facilities for uranium enrichment will be suspended for 10 years. Moreover, Iran agreed to transfer all its uranium enrichment programs under the international control for the period of 25 years.
The P5 +1 and Iran intend to complete the preparation of the agreement on the nuclear program by June 30. This is while EU will lift the sanctions on Iran if the latter fulfills the reached agreements.
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