Iran's Oil Minister warns that unilateral US sanctions on Iran are destabilizing global oil markets and urges OPEC to depoliticize the oil market.
Unilateral sanctions against major oil-producing countries are threatening global oil and energy market stability and hurt consumers globally, Iran ’s Oil Minister Mohsen Paknejad said on Wednesday. Paknejad was speaking during talks with OPEC Secretary General Haitham Al Ghais a day after U.S. President Donald Trump restored the “maximum pressure” campaign on Iran with the aim to drive its oil exports to zero.
In the memo, President Trump directed the Secretary of State to modify or rescind sanctions waivers, particularly those that provide Iran any degree of economic or financial relief, including those related to Iran’s Chabahar port project.
US Sanctions Oil Market OPEC Oil Exports 'Maximum Pressure' Energy Security Global Stability Market Destabilization
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