BAKU, Azerbaijan, February 5. Iran’s crude oil
exports for the tenth month of the current Iranian year (from
December 21, 2024, through January 19, 2025) set a record for the
previous decade, Iranian Oil Minister Mohsen Paknejad told
reporters following a Cabinet meeting in Tehran on February 5,
Trend reports.
According to him, Iran is rolling up its sleeves to boost crude
oil exports despite the heavy hand of sanctions.
The Iranian minister failed to disclose in what amounts and to
which countries Iran exported crude oil during the ten months.
Paknejad noted that even though US President Donald Trump signed
an order to maximize pressure on Iran, in parallel, the country’s
oil ministry has envisioned a range of steps to export crude
oil.
“As long as sanctions remain in place, decisions will be made
based on the current situation so that Iran can achieve its goals.
Even if sanctions are lifted, a new strategy will still be
developed depending on the circumstances. Anyway, the Ministry of
Oil is ready for any conditions,” he noted.
The official stated that one of the biggest contracts in the
history of Iranian oil will be signed in the coming days.
US President Donald Trump recently signed an executive order
restoring maximum pressure on Iran. The US President stated that it
is hoped that the maximum pressure will not be applied too often.
He also remarked that he is ready for a negotiation with Iran’s
president.
Meanwhile, Iran’s total hydrocarbon reserves are 1.2 trillion
barrels. Iran can produce 340 billion barrels with existing
technological equipment. Iran can utilize about 30 percent, while
70 percent remains unutilized underground.
To note, the US imposed new sanctions on Iran in November 2018
over Iran’s nuclear program, and since then, the sanctions have
thrown a wrench in the works for Iranian oil exports, impacting
over 700 banks, companies, and individuals in a big way.
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