Iran ready to boost oil exports once sanctions are lifted, which could be soon

摘要

Iran's Vice-President Eshaq Jahangiri said on April 30 that his country is ready to boost oil exports to 2.50MM b/d once US sanctions on the country's oil industry are lifted: "We have tried to neutralize the sanctions. Oil sales have dropped a lot, but now the situation is better, and we are in control. We will be able to increase oil exports to 2.50MM b/d after removal of the sanctions." A senior US official said on May 6 that the US could lift sanctions against Iran's oil sector in advance of the country's presidential election next month, but this would require Iran returning to full compliance with the Joint Comprehensive Plan of Action (JCPOA) nuclear deal. According to this senior US official, "If Iran makes a political decision that it genuinely wants to return to the JCPOA, as the JCPOA was negotiated, then it could be done relatively quickly, and implementation could be relatively swift. Is it possible? Yes, it is possible. But is it likely? Only time will tell-it is a political decision to be made in Iran."