TEHRAN: Saudi Arabia, the United Arab Emirates and Iraq can not fill the vacuum of Iranian oil
Al-Nour News / Baghdad
Oil Minister Bijan Zanganeh said on Sunday that Saudi Arabia, the United Arab Emirates and Iraq could not fill the oil vacuum of his country if the export stopped.
This came in a press statement made by Zengana after a meeting with former oil ministers in the capital Tehran, in response to promises from the three countries in this regard.
He added: "No country can fill the vacuum of Iranian oil, Saudi Arabia, the UAE and Iraq have their own markets."
Zengana stressed that the European mechanism "Instex" will not be valuable if it does not lead to the delivery of Iranian oil money to us.
Germany, Britain and France set up the INSTEX mechanism to facilitate trade with Iran, protect European companies from US sanctions after Washington withdrew from a nuclear deal with Tehran in 2015 and re-imposed severe sanctions on the latter.
Despite the creation of the INSTEX mechanism last January, it has not yet come into force as a result of American pressure. And allow companies to trade with Iran despite the sanctions, but on specific terms, the most important that the exchange of trade on the barter system, that is, the exchange of Iranian oil with European funds only to the medicines and food in Iran.
With regard to Britain's detention of an Iranian tanker in the Strait of Gibraltar, Zanganeh said that the carrier's detention had not yet affected the oil supply from his country.
He pointed out that the United States and its allies are trying to tighten restrictions against Iran in the oil sector.
In July, the British Crown Prince's Government of Gibraltar announced the suspension of a tanker carrying Iranian crude to Syria and its seizure and cargo.
The reason for the suspension was the carrier's "violation" of the European Union's embargo on Syria.
On the same day, the Iranian Foreign Ministry summoned the British ambassador to Tehran, Rob Macier, to protest the detention of the tanker.
Last week, the authorities of Gibraltar released four crew members of the Iranian carrier, without releasing the tanker itself.