4 May 2019 - 15:39
News Code 83302420
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Iran's oil sanctions to pressure global market: Speaker

Tehran, May 4, IRNA – Iran's parliament speaker Ali Larijani said on Saturday there was information that Saudi Arabia and UAE lack the capacity to sell more oil, adding that prevention of Iran's oil sale would pressure the world market.

Speaking at a scientific conference in Tehran, Larijani said, 'There is information that Saudi Arabia and the UAE do not have the capacity to sell more oil. If they had, they would have already increased their crude sale.'

Washington has said that it would halt Iran's oil sale through preventing the global market from buying the country's crude. A number of oil producer countries have assured the world to cover any shortage by increasing their production.

They (the Americans) had also conducted research and made plans on Iraq's oil before invading the country, but they couldn't reach all their goals, the speaker said.

'They are currently exercising similar psychological operation, as they are fully aware that Iran's oil absence in the market would pressure the world,' he said referring to the US sanctions on Iran's crude imports by international customers.

'The Americans would not succeed in the psychological operation, and the oil shortage will certainly appear,' he added.

Dismissing the sanctions and the claims that Iran's oil would be zeroed as a result of the sanctions, Iranian officials have repeatedly said they would use alternatives to continue exporting oil.

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