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Iran May Double Oil Export Within Months After Lifting of Sanctions

© AP Photo / Vahid SalemiGeneral view of part of Tehran's oil refinery south of the capital Tehran, Iran
General view of part of Tehran's oil refinery south of the capital Tehran, Iran - Sputnik International
Tehran is determined to conquer its share of the global oil market. The Islamic Republic hopes the EU and the US to lift sanctions "maximum early January".

Tehran - Sputnik International
Asian Refineries Prolong Contracts With Iran That May Quadruple Oil Export
MOSCOW (Sputnik) — Iran is ready to double its oil exports within three months after sanctions have been lifted, the country's Deputy Trade Minister Mojtaba Khosrowtaj said Thursday.

"Earlier, before sanctions, we produced 1.8 million barrels of oil per day for domestic use and 2.5 for export. Currently, we export almost one million barrels per day, and we are fully prepared to add another 500,000 barrels of oil to our exports immediately after sanctions are lifted. And within a few months, maybe three, we can add another 500,000 barrels per day," Khosrowtaj told RIA Novosti.

Khosrowtaj added that he believed that the oil embargo imposed on Iran will be lifted as early as December 2015 or January 2016.

"We do not accept an option of gradual lifting of the sanctions, we have stated that all sanctions should be lifted simultaneously. And when I say that in mid-December or early January, the sanctions will be lifted, I am referring not only to the banking sanctions," he stressed.

Iran and the P5+1 group of world powers — including Russia, the United States, China, France and the United Kingdom plus Germany — reached a deal in July to monitor and limit Tehran's nuclear program in exchange for the easing of international sanctions, which opened the way to increased Iran's energy sales.

"We expect sanctions to be lifted by the EU, as well as by the US," Hosroutadzh said.

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