Moscow Calls on All Countries to Keep Buying Iranian Oil

Related Articles

Oil Rises amid Escalating Russia-Ukraine Tension

4 days ago

Oil Prices Set for another Weekly Loss on Soft Demand

6 days ago

OPEC Oil Production Jumps by 470,000 Bpd as Libyan Output Returns

1 week ago

Russia calls on all states to continue buying Iranian oil despite the US announcement to end sanctions waivers for importers of Iranian oil. the Russian Foreign Ministry said on Thursday.

`We urge everyone to not turn off such economic ties. including purchase of Iranian products. primarily energy resources. We insist that Washington must stop any actions that impede the interaction of other states with Iran in the financial. economic. political and other spheres.` the statement said.

On Wednesday. Iran informed the ambassadors of the United Kingdom. France. Germany. China and Russia of its decision to suspend some of its obligations under the Joint Comprehensive Plan of Action (JCPOA). also known as the Iran nuclear agreement.

Iranian President Hassan Rouhani said he gave European countries 60 days to hold negotiations with Iran.

`We are treating with understanding the decision of the Islamic Republic of Iran to suspend the fulfilment of some of its voluntarily assumed obligations under the JCPOA… At the same time. we urge Iran to refrain from taking further steps to curtail the fulfilment of obligations under the JCPOA. We urge all the state parties to the nuclear deal to comply with their obligations under the Action Plan. speed up the implementation of projects coordinated in accordance with comprehensive agreements. in particular the modernization of the reactor in Arak.` the ministry added.

The administration of US President Donald Trump has long sought to squeeze Iranian oil exports out of the oil market. Last year. the United States unilaterally withdrew from the multilateral Iran nuclear deal. which ensures the removal of the western anti-Tehran sanctions in exchange for Iran abandoning its nuclear program. Since then. various US sanctions restricting transactions with Iran have been reintroduced.

Particularly. on April 22. the White House announced that the United States would end waivers for oil sanctions on Iran in a bid to bring Iran oil exports to zero.