Citing World Bank figures on a huge GDP fall 2017-20, Gholam-Hossein Shafei has said the government needs to revise policies to stimulate competition and encourage investment.
22 hours 45 min ago
Iran: We Will Not Be Replaced in International Oil Market
Abbas Mousavi, the spokesperson for the foreign ministry of the Islamic Republic says Iran will not allow any country to replace it in the international oil market.
This comment is in response to Washington’s decision not to extend the oil sanction waivers for the customers of Iranian oil.
A high-ranking U.S official said on Monday that President Trump is certain that Saudi Arabia and the United Arab Emirates will fill any void in the international oil market.
Mousavi condemned Saudi Arabia and Bahrain for supporting the oil sanctions against Iran and said the United States and any country that supports this decision will have to accept responsibility for the consequences.
The spokesperson for the ministry of foreign affairs described the U.S sanctions against Tehran as “illegal, unjust, and threatening” and continued: “We hope those customers of Iranian oil who voiced their disapproval of United States’ unilateral decision would take measures to counter it.”
According to Reuters, China, the biggest customer of Iran’s crude oil, this week criticized the United States’ decision to revoke the sanction waivers.
After the U.S decision, the price of Brent crude oil for the first time in 2019 increased to $75 a barrel.
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