Iranian Minister of Oil Bijan Zanganeh said that Islamic Republic of Iran will swiftly return to the global oil market after sanctions imposed on the country are lifted.

Speaking after OPEC+ meeting on Friday, Zanganeh reiterated on Friday at OPEC+ meeting that Iran would return to the markets swiftly if US sanctions are lifted, regardless of decisions made by the producer group.

"At this meeting, we spoke about Iran's return to the market, and I said that any decision which is made does not affect our will, and that whenever the sanctions are lifted, we will return to the market in the shortest possible time," said Zanganeh.

The 18th meeting of oil and energy ministers of the Organization of Petroleum Exporting Countries (OPEC) and Non-OPEC member states entitled “OPEC+” kicked off late on Friday July 2 and ended without any result, so that making decision on gradual increase in oil production was postponed to July 05.