BAKU, Azerbaijan, July 3
By Elnur Baghishov – Trend:
Iran has announced in an OPEC + meeting that Iran will soon return to the oil market if sanctions against Iran are lifted, Iranian Oil Minister Bijan Zanganeh told journalists after the meeting, Trend reports citing Shana News Agency.
According to Zanganeh, the decision on the sale of oil is the official position of Iran.
The minister added that Iran will return oil production and exports to the pre-sanctions period.
Reportedly, the 18th meeting between oil and energy ministers of the OPEC member and non-member countries was held last night on July 2. And the decision to gradually increase oil production was postponed to the next meeting.
The US announced its withdrawal from the nuclear deal between Iran and the 5 + 1 group in May 2018 and imposed new sanctions on Iran in November 2018. Over the past period, the sanctions affected Iranian oil exports, more than 700 banks, companies, and individuals.
Iran's oil revenues over the last Iranian year (from March 20, 2020 through March 20, 2021) amounted to about 120 trillion rials (about $2.86 billion).