Code: 638844 A

The Iranian Oil Minister Bijan Namader Zanganeh has said if the Oil Ministry had signed 5 more contracts and had exported 4mn bpd, the US would not have been able to sanction Iran’s oil.

According to Iranian Parliament’s website ‘Khaneh Mellat’, Bijan Namader Zanganeh asked why the US could not sanction Russia’s oil and gas, noting “If they had not got in the way of Oil Ministry and if there had been 5 more contracts signed and the country's oil exports had been 4mn bpd, the US would not have been able to sanction Iran’s oil.”

Zanganeh further said that the French Total has signed an ‘IPC’ contract with Iran, according to which the company can leave Iran but “it will not receive any money from Iran until the project is completed.”

He said that if Total leaves Iran, it will be replaced by a Chinese firm, noting that the French company is still operating in Iran as out of the 60 days it was given, 35 days is still remaining.

The Iranian oil minister further cast doubt on the Total’s ability to secure an exemption from US sanctions, adding that in case the Chines company is also not willing to continue the Total’s project, a third company will continue the work.

He went on to point out "Total has so far spent $ 60m on the project."

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Iranian oil minister sanction
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