Iranian Oil Minister Bijan Zangeneh said that Saudi Arabia is not in a position to impose an embargo on oil tankers buying Iranian crude oil.
“Saudi Arabia may be willing to do so, but it is unable to do it,” he said after a meeting between the trade delegations of Iran and India.
He further said that Iran and India have signed an agreement which stresses Indian readiness to buy more crude from Iran and to develop Farzad B Gas Field, on condition that the agreement can be made before the Christian New Year.
Iran holds the largest gas reservoirs in the world, he said, adding that India would need more energy in the near future due to its economic progress.
“We will meet India’s need as the only country which has surplus gas for export.”