Iran eyes continuing energy exports, working with the EU on saving JCPOA

Tabnak – As the United States has decided to unilaterally withdraw from the nuclear deal with Iran, an important question is the future of Iran’s energy sector in the shadow on new US sanctions. Iranian officials assure the flow of oil exports will continue, while talking about the possibility of working with the European countries.

According to the Iranian Oil Minister Bijan Namdar Zanganeh, the recent move by the US administration to leave the 2015 nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), will not have an impact on the Islamic Republic’s oil and gas exports.

“With the US withdrawal from the JCPOA, nothing noteworthy will happen to the country’s oil, gas and gas condensates and the revenues (from the exports) will not change,” Zanganeh said in a televised program on Thursday night.

The Iranian oil minister further pointed to the country’s self-sufficiency in producing gasoline, saying that Iran’s condition in this regard is “very good” and the country cannot be put under pressure by the Western sanctions on the product.

He added that the second phase of the Persian Gulf Star gas condensate refinery has come into operation in recent days and is producing 12 million liters of Euro-5 gasoline per day.

Earlier this week, Commander of Khatam al-Anbia Construction Base General Ebadollah Abdollahi said the daily output of gasoline at the Persian Gulf Star refinery has reached 22 million liters, adding that the facility processes 240,000 barrels of gas condensates every day.

According to General Abdollahi, completion of the refinery would turn Iran into an exporter of gasoline.

In another related statement, Iranian Deputy Foreign Minister for Political Affairs Seyed Abbas Araqchi said the survival of the 2015 nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), would be possible if other parties give guarantees that Iran’s interests will be served by the deal.

Speaking at a meeting with Russian Deputy Foreign Minister Sergey Ryabkov in Tehran on Thursday, Araqchi pointed to a recent move by the US administration to withdraw from the JCPOA and said despite the move, the Islamic Republic will continue its talks with the European sides, Russia and China to examine the possibility to continue the deal.

He further emphasized that if other parties to the JCPOA give “definitive guarantees” that Iran’s interests would be served and the negative effects of the US withdrawal from the deal would be compensated, the survival of the agreement will be possible.

In a speech from the White House on Tuesday, US President Donald Trump announced Washington’s withdrawal from the nuclear deal between Tehran and the Group 5+1 (Russia, China, US, Britain, France, and Germany).

Following the controversial decision, Iranian President Hassan Rouhani said Iran weighs plans to remain in the agreement with the other five parties provided that the remaining JCPOA parties ensure its full benefits for Iran.