Iran's Rouhani hints at threat to neighbors' exports if oil sales halted

Iran's Rouhani hints at threat to neighbors' exports if oil sales halted

Iran's Rouhani hints at threat to neighbors' exports if oil sales halted

Iranian officials in the past have threatened to block the Strait of Hormuz, a major oil shipping route, in retaliation for any hostile USA action against Iran.

"The Americans have claimed they want to completely stop Iran's oil exports".

"We heard very clearly what Nikki Haley said and we are in no doubt the USA will use pressure, not just on us around the world".

Since Trump's announcement of the US withdrawal in May, his administration has sought to reimpose sanctions on Iran and has encouraged other countries to do the same.

"It is incorrect and unwise to imagine that some day all producer countries will be able to export their surplus oil and Iran will not be able to export its oil", he said.

The signatories to the deal, minus the United States, have been working on a ministerial meeting in Vienna for weeks and the date has slipped several times since preparations began.

But many believe nations will have to sever ties once Washington reimposes sanctions - to avoid losing access to United States markets and financing.

In this debate, we will look at the state of the JCPOA what the European Union has to do to please Iran, and the tensions between the USA and Iran.

Government officials called speculation over the cancellation "unfounded".

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On Tuesday, State Department officials said that the administration is taking a much tougher line on Iranian oil exports than the Obama administration did when it put sanctions on Tehran's main source of revenue.

Rouhani's European trip will be of "prime importance" as it could "provide a more precise picture of cooperation between Iran and Europe", the Iranian foreign ministry spokesman said at the weekend.

"Not the United States, not any other country would benefit from this decision to withdraw from the accord", he also said.

The sources said the U.S. was prepared to work with countries that are reducing their oil imports on a case-to-case basis.

MP Assadollah Qarehkhani was quoted by media as saying that a special committee had been formed in the Parliament that would deal with bartering oil with goods, adding that this was meant to help Iran overcome the impacts of upcoming USA sanctions.

The sanctions would include a universal ban on Iran over buying or acquiring USA dollars as well as restrictions over purchases of crude oil from the country and investing in its oil sector projects.

Rohani, accompanied by Foreign Minister Mohammad Javad Zarif, is holding talks with Austrian leaders in Vienna after a stop in Switzerland. But Britain, China, France, Germany, Russia and the European Union have vowed to keep the pact alive despite Washington's withdrawal.

India may likely to fall back on the rupee-rial arrangement for importing oil from Iran in case the USA forces it to cut procurement of petroleum products from that country, the sources said. Saudi Arabia is planning to push up oil production to record levels of about 11 million barrels per day starting in July, Reuters reported Tuesday.

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