Oil minister: Sanctions on Iran to affect market
Azerbaijan, Baku, Apr. 18/ Trend F.Milad/
Iranian Oil Minister Rostam Qasemi has said imposing sanctions against Iran raised oil prices in international markets by around 20 percent, and continuing the situation will affect the market more.
Qasemi added that the sanctions imposed on the country have not closed down or even halted any oil project, and that crude exports are flowing uninterrupted, Shana news agency reported.
Speaking to reporters on the sidelines of inaugurating the 17th International Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show), which opened in Tehran on Tuesday, he said that all the South Pars gas field development projects are underway.
Although the country's oil industry is under economic sanctions, the Oil Ministry welcomes foreign investment in oil and gas projects, Qasemi said.
Despite the international sanctions on Iran, the number of the countries participating in this year's exhibition has increased by about 10 percent compared to the last year.
On January 23, EU foreign ministers approved sanctions against Tehran, including a ban on Iranian oil imports, a freeze on the assets of the Central Bank of Iran (CBI) within the bloc's states and a ban on selling diamonds, gold, and other precious metals to Tehran.