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Iran circumvents US sanctions through ‘shadow markets’

Mahmoud Alavi is an Iranian cleric, politician and the minister of intelligence in Hassan Rouhani's government. (Mostafameraji/Wikimedia Commons)
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Iran’s deputy oil minister said that the paths are not straightforward for the oil market, but fortunately Iran has the “shadow markets” that can be used to export oil.

“The conditions for maintaining the Iran’s shares in the global oil market are not simple, Deputy Oil Minister of the Islamic Republic of Iran, Amir-Hossein Zamaninia said, Trend reports citing IRNA.

“There is no day when 5 or 6 serious oil buyers do not come to us; we have found certain “shadow markets” for oil export,” he said, without explaining, claiming the information being too sensitive.

“We are not in a bad situation, we will fight the sanctions and we will succeed in this war,” said Zamaninia.

He went on to say that there are many opportunities to export oil products which are still untouched.

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The official went on to add that in neighboring countries with Iran, such as Iraq, Turkey and Afghanistan, there are many opportunities that Iran’s exporters can use.

Referring to the Special purpose Vehicle (SPV) and the EU’s delay in the issue, Zamaninia said that while the Europeans are under US influence, no one in Europe said the SPV’s implementation is impossible.

“If this mechanism works, it will be helpful, but it will not solve all the problems of the country,” he believes.

He added that launching SPV will help expand trade and financial relations with Europe and other trading partners of Iran.

“We hope that Europe will take advantage of the opportunities it has,” the official noted.

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© 2019 Trend News Agency (Baku, Azerbaijan)

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Distributed by Tribune Content Agency, LLC.

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