WANA (Sep 03) – Iran’s Oil Minister, Mohsen Paknejad, spoke about the possible activation of snapback sanctions and their impact on the country’s oil sales, stating that the ministry will take necessary measures based on the conditions it faces.

 

Speaking to reporters on the sidelines of today’s cabinet meeting, Paknejad responded to a question about potential snapback sanctions, saying, “These sanctions are not expected to go beyond the unilateral restrictions already imposed by the U.S. Treasury Department.”

 

He added, “Naturally, we will take the necessary measures based on the conditions we are in.”

 

The minister also announced that hydrocarbon reserves have been confirmed in the “Arash 1” field. He said the drilled well is approximately 750 meters from the border line drawn years ago, and the Ministry of Foreign Affairs is following up on the matter. Once finalized, the Oil Ministry is prepared to develop any portion that belongs to Iran.

 

Regarding oil sales, Paknejad stated, “Currently, there is no problem in selling oil. In the first four months of this year, compared to last year, we sold 21,000 barrels per day more on average, which amounts to roughly 630,000 additional barrels per month.”

 

On the issue of super gasoline imports, he said, “The process of importing super gasoline is underway, and we will soon see it available at gas stations.”

 

He emphasized that super gasoline imports will not affect quotas or prices and represent merely a new service provided by the Oil Ministry. Private sector suppliers will be involved, and people can choose to use super gasoline or continue using the standard quota gasoline, which will remain available.

A general view of a gas station during a gas station disruption

A general view of a gas station in Tehran, Iran, December 18, 2023. Majid Asgaripour/WANA (West Asia News Agency)