WorldIran: US embargo cost $ 100 billion in oil revenues

Iran: US embargo cost $ 100 billion in oil revenues


AA / Istanbul

Iranian Oil Minister Javad Oji has said the US embargo against his country has cost Iran $ 100 billion in oil revenues.

Iranian news agency IRNA reported the minister’s remarks that “the unjust US embargo has deprived Iran of producing 1.8 billion barrels of oil, with a total value of over 100 billion of dollars, during the period from April 2018 to 2021 “.

In May 2018, the United States withdrew from the nuclear deal, and reimposed sanctions on it from August of the same year, while threatening companies and countries not to deal with it. Tehran.

Javad Oji also made it known that “the illegal and unilateral embargo measures by the United States on two of the founding members of OPEC – with reference to Iran and Venezuela – is incompatible with the principles and the laws international “.

Before the sanctions, Iran produced 3.85 million barrels of oil per day, which after its imposition fell to an average of 1.9 million barrels per day, and this year it has risen to 2.3 million barrels on average.

The Iranian minister estimated that “OPEC +, despite all the difficulties attributed to the Covid-19 pandemic over the past two years, has been able to adhere to its principles and objectives, and has continued its joint action in the face of the challenges imposed by the markets global oil companies “.

During the month of August, US President Joe Biden called for an increase in oil production by the OPEC + alliance, in order to reduce the prices of fuels sold in US markets.

* Translated from Arabic by Mounir Bennour

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