03:10 GMT +323 November 2019
Listen Live
    an aerial view shows the third gas refinery of South Pars gas field in Assalouyeh, Iran on the northern coast of the Persian Gulf (File)

    Return of US Sanctions Won't Impact Iran's Gas Industry - Gas Company CEO

    © AP Photo / Vahid Salemi
    Middle East
    Get short URL
    140
    Subscribe

    MOSCOW (Sputnik) - Washington's withdrawal from the 2015 nuclear deal, and the subsequent re-imposition of US sanctions on Iran will not affect the country's gas industry as few foreign contractors work in this field, Managing Director of the National Iranian Gas Company (NIGC) Hamid Reza Araqi said on Monday, as quoted by the Tasnim News Agency.

    "We manufacture between 80% and 90% of the equipment used for maintaining and establishing refineries inside the country and are self-sufficient in this regard," the managing director said according to the Tasnim News Agency.

    On May 8, US President Donald Trump announced that his country would exit the 2015 nuclear agreement, which provided for the gradual lifting of the anti-Iranian sanctions in exchange for Tehran's maintaining the peaceful nature of its nuclear program. Besides, Trump decided to reinstate the previously lifted sanctions on the country.

    Other signatories to the agreement, namely the European Union, Iran, Russia, China, France the United Kingdom, and Germany, have criticized Trump’s decision to unilaterally pull out of the deal. They agreed on the necessity to preserve the deal which had ensured the peaceful character of the Iranian nuclear program over the past years, refusing to impose any new sanctions on the country.

    Related:

    'EU's Stance Will Be Decisive': How Iran Sanctions Affect German Banks
    'Sanctions Not Absolute Ban on Business': AmCham CEO on Investment in Russia
    Here's a List of European Companies Operating in Iran In Face of US Sanctions
    US Sanctions on Iranian Aviation to Expand Tehran-Moscow Ties - Civil Aviation
    Tags:
    gas, sanctions, Joint Comprehensive Plan of Action (JCPOA), Donald Trump, Iran
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik