WANA (May 14) – Speaking to reporters on the sidelines of a cabinet meeting, Iranian Oil Minister Mohsen Paknejad stated that international sanctions no longer pose a serious obstacle to the country’s oil industry. His remarks came in reference to the 29th International Exhibition of Oil, Gas, Refining and Petrochemicals held in Tehran.

 

“This exhibition proves that we are not facing the kind of sanctions that could paralyze our industry,” Paknejad said. “We are capable of meeting the oil sector’s needs through domestic expertise and resources. The so-called ‘maximum pressure’ campaign is a hollow slogan and a failed policy.”

 

He noted that the exhibition provided a platform for industry professionals to address existing challenges, which led to the signing of various memorandums of understanding and contracts.

 

Advancing Economic Ties with Russia

Paknejad also touched on the recent Iran-Russia Joint Economic Cooperation Commission, which he described as a series of expert-level meetings spanning several days. The commission concluded with the signing of a final agreement alongside Russia’s Energy Minister.

 

“The agreement encompasses a wide range of sectors and lays the groundwork for expanded cooperation between Iranian and Russian companies in oil, gas, finance, banking, trade, and other key areas,” he said. “This is a major step toward utilizing the full potential of both sides.”