04:27 GMT29 May 2020
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    The fact that international oil companies have signed deals with Iran indicates that sanctions against Tehran are very unlikely, Iranian Deputy Petroleum Minister for Trade and International Affairs Amir Hossein Zamaninia said Tuesday.

    ISTANBUL (Sputnik) — On July 3, France's energy giant Total, China’s National Petroleum Company (CNPC) and the National Iranian Oil Company (NIOC) signed a 20-years duration contract to develop phase 11 of Iran's South Pars, the world's largest gas field.

    "With the contracts signed last week, with the Chinese and Total and other companies that is also a very good indication that the assessment by international oil companies [is] that the return of sanctions is very unlikely, if not impossible," Zamaninia said during the World Petroleum Congress in Istanbul.

    International sanctions against Iran have been gradually lifted following a historic agreement with P5+1 countries, which are China, France, Russia, the United Kingdom, the United States plus Germany, on Iranian nuclear program reached in mid-2015, which took effect in 2016.

    The agreement implies that sanctions will be lifted, if Iran complies with the requirements of the International Atomic Energy Agency (IAEA) and closes its nuclear program.


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