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Iran's oil export would increase if FATF-related bill issue gets solved - analyst

Oil&Gas Materials 17 February 2021 16:28
Iran's oil export would increase if FATF-related bill issue gets solved - analyst

BAKU, Azerbaijan, Feb.17

Trend:

Iran could resume oil sales globally, if the Financial Action Task Force (FATF) related bills and bank transaction issues would be resolved, said energy expert and economic analyst Nersi Ghorban, Trend reports citing ILNA.

"If the issue of FATF related bill is resolved and Iran is removed from the black list, it can connect to the global banking system and it is very likely that Iran could export up to 2.3 billion barrels of oil per day," said Ghorban.

"Iran's issue with oil export to the global oil market would be clear when issues such as sanctions and interaction with global banking system and the FATF are solved, otherwise selling oil and not being able to return the revenues back to the country is useless," he said.

"Following the COVID-19 vaccination across the world, it is expected that demand for oil would increase in 2021, and therefore Iran's return to the global market would not face any major problems," he said.

"By lifting primary sanctions as the result of the Joint Comprehensive Plan of Action (JCPOA) it was predicted that Iran would gradually come back to the markets. So if the sanctions are lifted, Iran would come back to exporting its oil earlier than expected," he said.

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