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Tehran: Any State Trying to Take Away Iran's Oil Market Share Will 'Pay for It'

© AP Photo / Vahid Salemi, FileThis Nov. 17, 2007, file photo, shows a portion of the Tehran oil refinery, in Tehran, Iran
This Nov. 17, 2007, file photo, shows a portion of the Tehran oil refinery, in Tehran, Iran - Sputnik International
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Iranian First Vice President Jahangiri said that Tehran would allow the Iranian private sector to export crude oil to help beat the US sanctions.

According to Jahangiri, any country trying to deprive Iran of its share of the global oil market is committing "great treachery" and "will one day pay for it."

"Iranian crude will be offered on the bourse and the private sector can export it," he said, commenting on the looming US sanctions.

The statement comes as Iran is considering possible counter-measures to mitigate the negative effect of sanctions that Washington had imposed on the country. According to Iran's state news agency IRNA, the country's government has already set up a commission tasked with finding buyers for Iranian oil after the US imposes its sanctions.

READ MORE: Iran Looks Into Options to Evade US Sanctions, Ensure Steady Oil Export

A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005 - Sputnik International
US Admits Oil Prices May Go Up When Iran Sanctions Kick In
Earlier in June, Iran's Deputy Foreign Minister Abbas Araqchi said he did not rule out Tehran's withdrawal from the nuclear agreement in the wake of US President Donald Trump's controversial decision to pull out of the deal, which required Tehran to maintain a peaceful nuclear program in exchange for sanctions relief.

The US withdrew from the Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA) in May 2018, promising to re-impose sanctions against Iran that had been in place before the deal was reached in 2015. The unilateral move taken by the United States has been opposed by the other signatories of the Iran deal.

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