US Bans Preventing Iran From Paying Dues To OPEC: Oil Minister

US Bans Preventing Iran From Paying Dues To OPEC: Oil Minister

Owji acknowledged on Sunday that Iran has been struggling to discover a strategy to pay its membership dues to the OPEC, including that US restrictions on Iran’s banking ties with the remainder of the world had made it virtually unimaginable to settle the arrears.

“The unilateral, oppressive American sanctions in opposition to our nation and restrictions on cash switch have triggered issues,” he continued, including, “We’ll transfer to pay Islamic Republic of Iran’s membership dues as quickly as we discover a answer.”

The minister made the remarks following a digital assembly of OPEC members and allies, a grouping generally known as OPEC+, by which oil producing nations agreed to stay to output cuts of two million barrels per day that had been determined in October for implementation from November till the top of 2023.

Iran, a founding member of the OPEC, has been exempt from cuts agreed by the alliance as a result of restrictions imposed on the nation’s oil gross sales by the US.

Nevertheless, Owji famous after the OPEC+ assembly that members of the alliance had been unanimous of their determination to stay to output cuts as he insisted that oil producers had been nonetheless involved in regards to the impression of a slowing Chinese language economic system on world demand.