Traders may use foreign tankers to transport Iranian oil: professor

Oil&Gas Materials 10 November 2018 14:35 (UTC +04:00)

Tehran, Iran, Nov. 10


Iran's authorities have said both individuals and legal entities can purchase oil via the Energy Exchange, and this is a good way to bypass the US sanctions, Mehdi Taghavi, a faculty member at the Allameh Tabataba'i University, told Trend.

"Now, if these individuals buy and sell Iran's oil products, it is not the government selling them, but the individuals,” he says.

Referring to the US sanctions on Iran's Ports and Maritime Organization and its effect on oil transportation, he says those who bought oil through stock exchanges could use foreign oil tankers to transport their purchased oil.

Pointing to the possibility of negotiations between Iran and the US, he says, "Trump is not a politician, he was just a businessman, and as long as he is in the White House, Iran is unlikely to enter negotiations."

"Trump eagerly wants to negotiate with Iran, but so far Iran has not agreed, it is more likely that a negotiation is carried out by foreign ministers of both countries," said Taghavi on the possibility of Iran-US talks in future.

On Monday, the Trump administration reinstated all sanctions removed under the 2015 nuclear deal, targeting both Iran and states that trade with it. They will hit oil exports, shipping and banks - all core parts of the economy. More than 700 individuals, entities, vessels and aircraft are now on the sanctions list, including major banks, oil exporters and shipping companies.