After the restoration of the nuclear deal, Iran will be able to increase oil supplies only from next year. This increase will not have a significant impact on the world oil market, Mikhail Ulyanov, Permanent Representative of the Russian Federation to International Organizations in Vienna, said in an interview with Izvestia on Friday, August 12.
He clarified that Russia sees no negative consequences for itself in the restoration of the nuclear deal.
“Where is some negative for us? I dont know. That Iran will be able to sell its oil? Firstly, he is still selling it, despite US sanctions. And, I think that the increase – and not immediately, but next year – will amount to a volume that will not have a significant impact on the world oil market, ”the diplomat emphasized.
Prior to the introduction of the last major package of US sanctions against Iran in 2018, the Islamic Republic exported about 2.5 million barrels per day. After the imposition of sanctions, this figure fell to 700 thousand barrels per day.
In March 2022, according to the Director General of the Organization of Ports and Shipping of Iran, Ali Akbar Safayi, the volume of crude oil exports in Iran exceeded 1.5 million barrels per day.
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