Iranian Oil Minister Bijan Zanganeh said on Thursday January 10th that US sanctions against his country were “fully illegal” and Tehran would not comply with them, Reuters has reported.
Zanganeh, speaking at a joint news conference in Baghdad with Iraqi Oil Minister Thamer al-Ghadhban, said Iran would not discuss the volume or destination of its oil exports while it remained under US sanctions.
According to Reuters, Ghadhban said Iraq had not yet reached an agreement with Iran to develop joint oilfields. He also said the decline in global oil prices had stopped and that he expected them to improve gradually.
Iranian Supreme Leader Ali Khamenei has admitted that the reintroduced economic sanctions have placed serious and unprecedented pressure on the country. President Trump in 2018 pulled out of an international pact on Iran’s nuclear programme and re-imposed sanctions intended to scupper Tehran’s oil exports, curb its ballistic missile capability and clip its regional influence.
Iran’s economy has faced instability in recent months with a depreciating currency. Ordinary people, struggling to make ends meet, have taken to the streets nationwide. With a tough economic situation affecting all segments of Iranian society, truck drivers, farmers, workers, merchants and teachers have led demonstrations that were at times faced with violence by security forces.