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Iran: New sanctions will not stifle our oil industries and we will continue to develop them
18:37 - 07/05/2018
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"The development of our oil industry will continue even if new sanctions are imposed on Tehran," the vice president of Iran's national oil company said on Monday, noting that Iran could not be stopped.
"The senior officials of the Iranian oil industry will continue to develop even if the United States withdraws from the Iranian nuclear agreement for 2015," Manouchehri was quoted as saying. "Tehran will look at the agreement that it works as long as it can sell oil."
US and EU sanctions on Iran in early 2012 over its nuclear program imposed a cut in Iranian oil exports from a peak of 2.5 million barrels per day (bpd) before sanctions to just over 1 million bpd.
But Iran re-emerged as a major source of oil in January 2016 when international sanctions were suspended in exchange for restrictions on Iran's nuclear program.
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