Tag Archives: Clout
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Iran accuses US of using oil sanctions to gain market clout
Iran’s oil minister has accused the United States of using sanctions to “shock” the global oil supply and gain market clout for its booming shale oil production. Washington abandoned a landmark 2015 nuclear deal between Tehran and world powers last year and reimposed sanctions on the Islamic republic’s crucial oil sales as well as other parts of the economy. “I think one of the reasons for sanctions against Iran and Venezuela is opening up the market for American oil sales,” Oil Minister Bijan Namdar Zanganeh said in an interview with state TV late Sunday, a transcript of which was provided by his ministry’s SHANA news agency.
