Iranian Oil Minister Rostam Qasemi says the illegal US-engineered sanctions have not impacted the Islamic Republic\u00e2\u201e\u00a2s crude oil production.\n<\/p>\n
Qasemi made the remarks at a press conference on the sidelines of the 163rd ordinary OPEC session in the Austrian capital Vienna on Friday.\n<\/p>\n
\u00c5\u201cThe West\u00e2\u201e\u00a2s sanctions and unilateral pressure have not had any influence on crude oil production,\u201d the Iranian oil minister said, adding, \u00c5\u201cIran, which was a petroleum importer once, has turned into a petroleum exporter now, and is marketing for its petroleum and other oil products.\u201d<\/p><\/blockquote>\n
He added that the country\u00e2\u201e\u00a2s crude oil export has decreased slightly, but the small amount is being used for the production of oil products for export.<\/p>\n
Iran\u00e2\u201e\u00a2s crude oil is subject to a European Union embargo that started on July 1, 2012, which also bars EU insurance firms from covering Iran’s exports.\n<\/p>\n
The illegal US-engineered sanctions were imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.\n<\/p>\n
Iran rejects the allegations, arguing that as a committed signatory to the nuclear Non-Proliferation Treaty (NPT) and a member of the International Atomic Energy Agency (IAEA), it has the right to use nuclear technology for peaceful purposes.\n<\/p>\n
In addition, the IAEA has conducted numerous inspections of Iran’s nuclear facilities but has never found any evidence showing that Iran’s civilian nuclear program has been diverted to nuclear weapons production.\n<\/p>\n
With 137.6 billion barrels of proven reserves, Iran has the world’s fourth largest oil reserves, and the second largest gas reserves, estimated at 29.61 trillion cubic meters.\n<\/p>\n
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