Zanganeh: volatility in oil market to continue due to U.S. sanctions against Iran
The volatility in the global oil market will continue, as long as the U.S. targets Iran with sanctions, Iran's oil minister Bijan Namdar Zanganeh said, warning that such restrictions will ensure the market remains volatile.
"As long as America targets Iran, one of the biggest crude producers, with sanctions, the volatility in the oil market will continue," the oil minister stressed.
"Iranian oil exports cannot be stopped," Tasnim news agency cited him as saying.
Zanganeh reiterated that Iranian oil output cannot be replaced by that of other oil-producing countries if Tehran is hit by U.S. sanctions.