Iran seeks OPEC support against US sanctions

Iran seeks OPEC support against US sanctions

Iranian Oil Minister Bijan Zanganeh has asked OPEC president, United Arab Emirates Energy Minister Suhail al-Mazrouei to support it against new U.S. sanctions.

“I would like to seek OPEC’s support in accordance with Article 2 of the OPEC Statute, which emphasises safeguarding the interests of member countries individually and collectively,” Zanganeh said in a letter.

Zanganeh also suggested in the letter that Iran was not in agreement with some OPEC ministers’ recent comments on the oil market. He said some OPEC ministers “have implicitly or unwittingly spoken for the organization, expressing views that might be perceived as the official position of the OPEC,” Reuters reported.

Zanganeh also said that if the latest U.S. sanctions threat was resolved “Iran reserves the right to return to its oil market share in the shortest possible time and resumes its normal production-level and will not accept any limitations in this regard.”

Zanganeh asked Mazrouei to include a separate agenda item for the June OPEC meeting entitled “OPEC Ministerial Conference support to the Member Countries that are under illegal, unilateral and extraterritorial sanctions.”