Iran's Zarif Says US Sanctions Cannot Have Dramatic Impact On Oil Exports

US sanctions will not have a dramatic impact on Iranian oil exports despite Washington's continued threats to cut it to zero, the Islamic Republic's Foreign Minister Mohammed Javad Zarif said.

MOSCOW (UrduPoint News / Sputnik - 13th November, 2018) US sanctions will not have a dramatic impact on Iranian oil exports despite Washington's continued threats to cut it to zero, the Islamic Republic's Foreign Minister Mohammed Javad Zarif said.

"We have stated before that the US cannot bring Iranian oil exports down to zero and this was proven right. The US will not be able to bring down exports dramatically either, because Iran has the ability to export its oil and the global market needs it," he told the New Arab publication.

Zarif promised Iran could maintain a strong presence in the oil market after the United States re-imposed sanctions last week on its crude trade and petroleum-related transactions.

Eight countries were given temporary exemptions to ensure a well-supplied oil market.

US President Donald Trump announced last May he was pulling the country from the 2015 nuclear deal with Tehran. Other signatories said they would uphold their commitments and devise a mechanism to evade sanctions that Trump promised to slap on firms still trading with Iran.