New Sanctions Result of US Failure to Zero Out Iran’s Oil Exports: Minister

New Sanctions Result of US Failure to Zero Out Iran's Oil Exports

Iranian Oil Minister Bijan Namdar Zanganeh, who has been blacklisted by the US Treasury Department, brushed off the new sanctions as a testimony to Washington’s failure to drive Iranian oil exports down to zero.

In a post on his Twitter account, Zanganeh said, “The sanctions on me and my colleagues are a passive reaction to the failure of Washington’s policy of bringing (Iran’s) oil exports to zero.”

“The era of unilateralism in the world has ended. Iran’s oil industry will not give up,” he added.

The oil minister also emphasized that he has no assets held abroad to be subject to the US sanctions, saying he would sacrifice his life, assets and dignity for Iran.

The US Treasury Department announced on Monday it has imposed sanctions on the Iranian Ministry of Oil, the National Iranian Oil Company and the National Iranian Tanker Company for alleged financial support for the IRGC Quds Force.

Iranian oil exports rose sharply in September in defiance of the US sanctions, according to three assessments based on tanker tracking.

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