15 Jul 2024
Tuesday 10 November 2020 - 13:41
Story Code : 385423

Iran's oil industry will not yield to US sanctions: Minister

Irans oil industry will not succumb to sanctions imposed by the United States, the oil minister said on Monday in comments carried by the ministrys SHANA news agency.

Tensions between Washington and Tehran have soared since President Donald Trump withdrew in 2018 from Irans nuclear accord with six powers and reimposed U.S. sanctions that have squeezed the Islamic Republics economy.

Neither are we afraid of sanctions nor does it affect our work, it only strengthens our determination to serve our people, Oil Minister Bijan Zanganeh said.

As part of the Trump administrations increasing economic pressure on Iran, Washington last month imposed sanctions on Irans Oil Ministry alongside other entities. Zanganeh was blacklisted by the U.S. Treasury Department.

These sanctions are a kind of revenge, the minister said. There is nothing left for the United States to sanction ... the only thing left is probably our services section, like our staff working at the kitchen.

U.S. President-elect Joe Biden, a Democrat who was vice president under President Barack Obama when Irans nuclear deal was reached, has pledged to rejoin the accord if Iran returns to compliance with it.

In retaliation for Washingtons maximum pressure policy, Tehran has gradually reduced its commitments to the accord. But Iran has said those steps were reversible if Tehrans interests were respected.

Iranian President Hassan Rouhani said on Sunday the next U.S. administration should use the opportunity to compensate for Trumps mistakes.

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