Iran encourages China and other allies to buy more oil amid US sanctions

The Iran nuclear deal may be doomed, at least if you believe the global oil market.
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TEHRAN – Chinese imports of Iranian oil fell by about 60% in June compared with a year earlier after the US reintroduced sanctions against the Islamic Republic in May.

Iranian Vice President Eshaq Jahangiri has called on China, his country’s main economic partner, and other Iranian allies to buy more oil from the Islamic Republic, SHANA, the country’s Ministry of Petroleum news agency, said yesterday.

“Even knowing that our partners such as China are facing certain restrictions, we expect them to be more active in buying Iranian oil,” Jahangiri told Chinese diplomat Song Tao, reports Turkish portal Hurriyet.

The Iranian leader noted that the US has been trying to create an impression that it can totally end sales of Iranian oil, which would lead to the collapse of the Islamic country’s economy, but fortunately, despite being a year under the US embargo. , Iran’s economic situation remains stable.

Rising US economic pressure

Tehran previously announced that it would partially suspend its obligations under the Comprehensive Joint Action Plan (JCPOA, or nuclear agreement) and gave the signatory European countries – including France, the United Kingdom and Germany – a 60-day deadline to save the wake up.

Tensions between the United States and Iran have increased sharply since May 2018 when Americans unilaterally abandoned the Iranian nuclear agreement. In addition, the Americans reimposed sanctions that had previously been suspended by the agreement.

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Iranian Foreign Minister Javad Zarif in a speech last week called US sanctions against his country “economic terrorism.”

The statement was during the chancellor’s speech the ministerial meeting of the Coordination Office of the Non-Aligned Movement. Zarif also said the sanctions are illegal and that the US seeks to encourage violence and intimidation among civilians with the measures.

“Terrorism is use of violence & intimidation against civilians in pursuit of political aims. The US is thus engaged in #EconomicTerrorism. It cannot be called “sanctions”, as they’re not designed to enforce laws. They in fact violate law,” said Zarif in a Twitter post.

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