16 Jul 2024
Saturday 4 May 2019 - 14:44
Story Code : 347593

US sanctions on Iran oil doomed to failure: Defense min.

MNA Iranian Minister of Defense Amir Hatami voiced confidence that the US plans to drive Irans oil exports to zero will fail, saying the countrys many advances in defense industry took place under sanctions.

Iranian Minister of Defense Amir Hatami said the enemies plots against the country, such as the US sanctions on the countrys oil industry, will be defeated just as many other such plots were foiled in the past thanks to divine power.

He noted the 40-year-long period of sanctions on Irans defense sector, saying many advances in this area took place while under sanctions and a lack of even the bare-minimum of resources.

His remarks came as the White House said in a statement that the US president would not reissue Significant Reduction Exceptions (SREs) when they expire in early May, a move aimed at bringing Irans oil exports to zero.

The waivers were granted to eight countries, including China, India, Japan, South Korea, Taiwan, Turkey, Italy and Greece, to buy Iranian oil without facing Washington's sanctions.

The re-imposition of sanctions on Irans oil industry followed Donald Trumps decision to withdraw the US in May 2018 from the Iran nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA), which was reached between Iran and six world powers in 2015.

Iran says it is weighing its options to respond to the US sanctions despite the fact that the Islamic Republic is still abiding by its nuclear-related commitments under the deal.
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